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Jewelry maker files restructuring
18:15
American jewelry company Charles & Colvard has filed for Chapter 11 bankruptcy protection in a North Carolina court as it seeks to restructure operations and avoid liquidation. The company cited declining revenues, intensifying competition and shifts in the market for lab-created gemstones.
Court filings show the company holds about $19.2 million in assets against roughly $10.5 million in liabilities. Despite the proceedings, Charles & Colvard intends to continue operating while…
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