Latest News 2009 November Several Companies File Bankruptcy Petition Against Jeweler

Several Companies File Bankruptcy Petition Against Jeweler

A group of diamond and jewelry companies have filed a Chapter 7 bankruptcy petition against Leo Robbins & Sons.

The companies claim the Philadelphia retailer, also known as Robbins Diamonds and Robbins 8th and Walnut, has not been paying it its debts when they are due.

The company now has 20 days to respond to the petition and contest the filing. 

The companies that filed the petition include Leo Schachter Diamonds, Salant Group, Sandberg & Sikorski Corp (d.b.a. A Jaffe), and two Israeli companies, A.D.R. Kropveld Diamonds and Yerushalmi Brothers.

Attorney Ian Winters, who is representing several of the creditors in the case, say his clients felt they have been more than patient in waiting for the debtor, but have just reached the point where they felt it was necessary to take legal action.

Robbins' corporate headquarters has yet to comment on the matter.

Chapter 7 petitions, like the one involuntarily filed against Leo Robbins & Sons, are often converted into Chapter 11 cases.

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Categories: Bankruptcy Basics