Compass-Backed Lugano Diamonds Files for Chapter 11 Bankruptcy Amid Fraud Allegations and Luxury Retail Slowdown
Lugano Diamonds & Jewelry Inc. filed for Chapter 11 bankruptcy in Delaware and put itself up for sale after internal probes revealed financial irregularities and lawsuits linked to ex-CEO Moti Ferder. The company lists over $500 million in liabilities and at least $100 million in assets. Majority owner Compass Diversified acquired its 60% stake in 2021. Boutiques remain open during the court-supervised sale process.
