United States based jewelry producer Alex and Ani LLC has filed for chapter 11 bankruptcy protection. According to the court documents, the company made the filing on June 9 in the United States Bankruptcy Court for the District of Delaware.
Citing the filing, the company has listed an estimated assets range of $100 million to $500. Alex and Ani also quoted the same estimate range for its total liabilities.
Alex and Ani was established in 2004, the company is famous for making necklaces and charm bracelets.
This development was first reported on Bloomberg Business News in which Mall owners Simon Property Group Inc. (SPG) and Brookfield Property Partners LP (BPY) are named as the company’s largest unsecured creditors.
According to the Bloomberg post, both companies above are each owed over $3 million in rent payment arrears.