Lucien Piccard Files Chapter 11

By Rob Bates, JCK Senior Editor

Posted on July 30, 2010

The LP Watch Group, the Hollywood, Fla.-based manufacturer of Lucien Piccard watches, declared Chapter 11 on July 14 in United States Bankruptcy Court, Southern District of Florida.
 
The Lucien Piccard group was founded in 1923 in Switzerland.
 
Total assets are listed as $10,567,549.50, and liabilities at $11,964,117.27.
 
Top creditors include F & K, Hollywood, Fla. (for “unpaid rent and loan,” valued at $604,606); Planway Limited, Hong Kong ($593,465); Weston Capitol Quest ($250,000); and Shenzhen Zhanyuan Industry Co. ($227,859).
 
LP Watch Group collections include LP Italy, Lucien Piccard, Dufonte by Lucien Piccard, Maddy Emerson, Maddy Emerson Couture, ME Couture, Venetian Gold and others. In 2007, the LP Watch Group, Inc. and A.G acquired an 80% interest in the Charles Winston Luxury Group, which manufactures jewelry utilizing simulated gemstones.
 
The company primarily sells its merchandise to department stores, retail web sites, resort hotels, cruise ships and direct response television.