Jewelry retailer Alex and Ani filed for Chapter 11 bankruptcy protection, according to a court filing made on Wednesday.
The company’s estimated assets ranged from $100 million to $500 million as did its estimated liabilities, according to the filing made in the United States Bankruptcy Court for the District of Delaware.
Mall owners Simon Property Group Inc and Brookfield Property Partners LP are among its largest unsecured creditors with each being owed more than $3 million in rent payments, Bloomberg News reported earlier on Wednesday.
Alex and Ani’s products include charm bracelets and necklaces. Founded in 2004 by Carolyn Rafaelian, it has locations in the United States, Aruba and Panama.
Source: Reuters.com