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Diamond Powerhouse Fabrikant Still Breathing.

Months long reports and rumors of the collapse of 100-year old M Fabrikant & Son, a leader in the diamond and jewelry trade appear to have been greatly exaggerated.

Fabrikant announced an agreement with its domestic lenders on August 7th.

Fears of Fabrikant's demise were triggered by the filing of two lawsuits against them by Creditors. Blue Star, an Indian based manufacturer filed a lawsuit against Fabrikant seeking 5.6 million in unpaid invoices, while K P Sanghvi filed a similar lawsuit for 1.9 million.

Fabrikant, a DeBeers Diamond Rough SiteHolder, is now prompted to start worldwide review of its operations.

Stay tuned.


Posted by Barry Gutwein on August 25, 2006 8:31 AM in E-Commerce. | Comments (0)

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