Lugano Diamonds Enters Chapter 11

Dow Jones11-17

By Connor Hart

Lugano Diamonds & Jewelry voluntarily entered chapter 11, seeking to commence what it called a value-maximizing sale for substantially all of its assets.

The high-end jewelry company, a subsidiary of Compass Diversified Holdings, or CODI, said Monday it will continue to operate normally during the restructuring.

Lugano said it struck a deal with Enhanced Retail Funding, under which the investment firm will support Lugano's continuation of sales and operations throughout the court-supervised sale process. Enhanced Retail Funding will also serve as the stalking horse bidder for the sale.

The proposed sale remains subject to other offers, and Lugano is actively soliciting additional qualified bids, the company said.

To fund operations, Lugano said it is seeking approval of a $12 million debtor-in-possession financing facility that could provide up to approximately $10 million of new liquidity. CODI separately said it has agreed to provide Lugano with debtor-in-possession financing to facilitate the bankruptcy process.

"We support the Lugano board's decision to file for Chapter 11 as the best choice for maximizing value from Lugano's assets," CODI Chief Executive Elias Sabo said. "The filing does not involve our other eight subsidiaries," he added.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 17, 2025 06:41 ET (11:41 GMT)

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Enhanced Retail Funding will also serve as the stalking horse bidder for the sale. \n\n\n  The proposed sale remains subject to other offers, and Lugano is actively soliciting additional qualified bids, the company said. \n\n\n  To fund operations, Lugano said it is seeking approval of a $12 million debtor-in-possession financing facility that could provide up to approximately $10 million of new liquidity. 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