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WD Lab Grown Diamonds Files for Ch. 7 Bankruptcy Protection

The firm reported liabilities of about $44 million versus assets of $3 million.




WD Lab Grown Diamonds has filed for Chapter 7 bankruptcy protection

The company reported liabilities of about $44 million versus assets of $3 million, the Financial Times reports.

The company, based near Washington, DC, made the filing in federal bankruptcy court in Delaware.

The newspaper stated that per-carat prices for lab-grown diamonds “have crashed more than threefold in seven years, as manufacturers continue to flood the market.”

WD Lab Grown Diamonds was founded in 2008 and used the using the chemical vapor deposition process to make its diamonds. It had revenue of $33 million last year..




“Every One of Them Said, ‘Go with Wilkerson.’”

There are times when decisions must be made. For Joe Cheslock, owner of Sycamore Jewelers in Midlothian, VA for the past 25 years, the time had come. He had to decide whether to renew a five-year lease. Instead, he called Wilkerson to handle his store’s going-out-of-business sale. Why did he select Wilkerson? “I talked to retailers from around the country to get their advice. Every one of them said, ‘Go with Wilkerson.’” And he’s glad he did. Cheslock says he was amazed by Wilkerson’s organization and attention to detail. Of course, as a store owner, it was hard to let others do the heavy lifting, but he’s glad he did. “Wilkerson did everything they said they would and more. They follow through and they’re respected in the industry. I now see why.”

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