According to overseas reports, charm brand Endless Jewelry has filed for bankruptcy in Germany.
A prominent investor in the company, Lars Seier Christensen, confirmed this in a personal Facebook post. He noted that the company had submitted “insolvenzantrag,” the German equivalent of bankruptcy, and stated, “It is too bad for the company’s shareholders, including myself, who have lost a lot of money on this, but [also] our partners and especially our staff.”
An unnamed spokesperson for Endless Jewelry USA told JCK that as of now, the U.S. office is “continuing to do business as usual.”
Endless founder Jesper Nielsen also took to Facebook after the announcement, noting that the shareholders “did everything [they] could to buy the business back in the last 3 weeks,” but ultimately couldn’t get a deal together.
In an exclusive interview with JCK, Nielsen revealed that he is “very sad” about the closure.
“We lost control of the company,” he said. “I blame myself. I allowed myself to go below 50 per cent ownership. I shouldn’t have opened that door.”
Nielsen founded the business in 2013 and left in February of 2016. This past summer, the company replaced its CEO, chief financial officer, and chief marketing officer.
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
