The Swiss watchmaker said the company’s plans to use a new version of the Hallmark crown on jewelry would confuse consumers.
Links of London’s US Division Files Chapter 7
Its non-U.S. operations are unaffected by the bankruptcy petition filed in Delaware.
New York—FF Group announced that the U.S. subsidiary of Links of London has filed for bankruptcy, citing “substantial and sustained annual losses.”
Links of London Inc. filed for Chapter 7 bankruptcy on Oct. 18 in the U.S. Bankruptcy Court for the District of Delaware.
The brand’s operations outside the United States, including its Canadian subsidiary, are unaffected by the bankruptcy petition and will continue as normal, its parent company said.
The brand will close six U.S. standalone stores and nine shop-in-shops.
FF Group said it will continue to serve the brands’ customers through the e-commerce websites LinksofLondon.com and FolliFollie.com.
According to court documents, Links of London Inc. has an estimated 100-199 creditors, with estimated assets of between $1 million and $10 million but estimated liabilities of $10 to $50 million.
The brand launched in 1990, becoming known for its cufflinks, charms, and gold and silver designs. Athens, Greece-based Folli Follie acquired the company in 2004.
The parent company recently has had struggles of its own.
Hedge fund Quintessential Capital Management released a report earlier in the year claiming FF Group had overstated the number of outlets it operates and questioning its accounting practices in Asia. FF Group refuted the claim.
The claims led to an audit of company’s consolidated financial statements by Alvarez & Marsal, which revealed discrepancies in its 2017 financial statements and lead to the resignation of founders Dimitris Koutsolioutsos and Ekaterini Koutsolioutsou in September, according to local reports.
FF Group also said in October that it would have to default on several loans that came due earlier than anticipated.
The company now is restructuring operations—the Links of London U.S. bankruptcy is part of that—and looking for new investors.
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The executive talked about the importance of self-purchasers and how fuel cell electric vehicles are going to fuel demand for platinum.
It will award a graduating high school student with about $10,000 toward a GIA diploma and an internship with the Seattle-based jeweler.
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Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
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May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
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Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.