SimplexDiam picks up Martin Ross inventory

by eyetee | April 8, 2015 2:26 pm

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SimplexDiam has purchased the remaining inventory of Martin Ross Group in a bankruptcy auction.

The New York City-based company says it was the winning bid for the stock, which included a significant amount of certified Canadian diamonds, Argyle pinks, natural fancy yellow diamonds, and pieces from the group’s brands, Libman Co. and Master Design.

In total, SimplexDiam purchased 16,000 units ranging in price from $500 to $10,000 wholesale.

Last year, the company, which specializes in diamond and jewellery liquidation and asset recovery, purchased Martin Ross’s loose diamond inventory valued at about $5 million wholesale.

One of the last Canadian jewellery manufacturers, Martin Ross Group filed for protection from creditors last year. The company liquidated its assets after failing to find a buyer, offering its inventory to consumers in warehouse sales over the Christmas holidays.

Source URL: https://www.jewellerybusiness.com/news/simplexdiam-picks-up-martin-ross-inventory/

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