From Henry Dunay Designs’ latest court filing:
– The Chapter 11 filing was precipitated by the economic downturn, “the decision of the Neiman Marcus Group to take setoffs and not remit approximately $3 million in funds owed for goods; and bank termination of credit lines to fund ongoing operations.”
The papers also note that the majority of the Debtor’s assets are held “on consignment with Neiman Marcus Group” as well as with Capital One Bank.
– Dunay “believes that the protections afforded by Chapter 11 will enable it to solicit offers for the sales of the business as a going concern or to obtain an equity investment in the company which will enable the Debtor to effectively reorganize and restructure the business.”
– Top trade creditors:
Elian Gem, $382,246
Jaguar Jewelry Castings, $343,769
Pac Team, $126, 665 (Disputed)
Schweizer Mustermesse, $103,566 (Disputed)
Royal Diamond Cutters, $74,144
Fancy Creations, $72,483
Luxury by JCK [!!], $65,900
Wild & Petcsch Lapidaries, $60,324
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