Retail Industry
Industry: Email Alert RSS FeedLID Files for Chapter 11.(Diamond Trading Company)(Brief article)
Jewelers Circular Keystone, May, 2007
By Staff
New York-based LID recently filed for protection under Chapter 11 of the Bankruptcy Code.
LID Ltd.'s parent company is a Diamond Trading Company sightholder in Israel. It is the second sightholder-related company to declare Chapter 11 in recent months. In November, M. Fabrikant and Sons filed for Chapter 11.
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The company's bankruptcy papers list $157.8 million in assets and $143.9 million in debts, reports say. Chief executive officer Lyle Rose tells JCK that the company owes trade creditors less than $300,000. Its biggest debt is to its bank lenders, to whom it owes ...
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