Endless Jewelry Files Chapter 7 Bankruptcy

by San Antonio Attorney

Endless Jewelry North and South America LLC, which makes bracelets and charms under the name of Jennifer Lopez, filed for Chapter 7 bankruptcy on Dec.  2.

The Danish jewelry brand, which is based in Fort Lauderdale in the United States, sells its Jennifer Lopez Collection by Endless Jewelry at more than 200 stores in North America, as stated on its website.  Lopez has used some of the pieces durinsg her red carpet appearances beginning in 2014.

According to its bankruptcy petition, the company has debts and assets between $1 million and $10 million.  The jewelry maker has yet to declare its biggest creditors or provide more comprehensive financial status, but one of its creditors are Jennifer Lopez who is represented by @ Axis-Caesars Entertainment.

The debtor’s attorney said that Endless Jewelry’s parent company in the Netherlands declared bankruptcy in Germany and then the bankruptcy trustee ordered the Florida-based business should file Chapter 7 liquidation.  The company has stopped operating and selling its items on its website.

The attorney also said the investors have discontinued paying for the cash deficit necessary to keep the operations going.

Endless jewelry generated revenue of $2.6 million from January to October 2016, but its expenditures were very high.

It is still uncertain whether the company’s assets are going to be sold.

According to reports, the founder of the company, Jesper Nielsen, who left the Endless Jewelry earlier in 2016, attempted to buy the business back after it declared bankruptcy in Germany.

In Chapter 7 bankruptcy, almost all debts are cancelled.  However, the trustee might also liquidiate the debtor’s assets.  Deciding to declare Chapter 7 bankruptcy is hard, so it is advisable to ask a San Antonio Chapter 7 Attorney for proper legal advice.

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