That's All: De Grisogono Goes Bankrupt

A Swiss luxury jewelry house De Grisogono filed for bankruptcy. The company took to ******* to make the statement. “For several months now, the sale process of the company had been ongoing. Despite important progress, the transaction did not go through. Without financial support from the current shareholders and without a new investor, unfortunately, the company cannot continue as a going concern.”

The Geneva-based jeweler De Grisogono was opened in 1993 by the Italian Fawaz Gruosi. The head of De Grisogono not only revolutionized the jewelry world, but also received a spectacular nickname - the king of black diamonds.

In 2012, Fawaz Gruosi sold part of his business empire to Africa's scandal-hit richest woman Isabel dos Santos. The failed negotiations forced the company to file for creditor protection with Swiss authorities, which if accepted, will affect 65 jobs in the nation, the company said.