M. Fabrikant & Sons Files For Chapter 11

Law360, New York (November 20, 2006, 12:00 AM EST) -- Diamond and jewelry seller M. Fabrikant & Sons Inc. filed for bankruptcy Friday, citing the bankruptcies of its largest customers and a decline in business from Wal-Mart Stores Inc. as reasons for its filing.

The century-old jeweler, which filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York, said it has between 200 and 1,000 creditors. The company’s unit, Fabrikant-Leer International, also filed for Chapter 11 protection.

The debtors hope that Chapter 11 will give the company the breathing...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.