Arthur Groom, a well-known emerald dealer and Ridgewood, New Jersey retailer, declared Chapter 11 this week, court records show.

Groom is best known in the trade for developing the ExCel enhancement process for emeralds.

Groom’s list of unsecured creditors involve mostly banks rather than trade names. In court papers announcing the action, Groom blamed declining sales caused by the recession.

Groom told the Record that Clarity Enhancement Laboratory, which manufactures the ExCel process, was not impacted by this action. He said he intends to emerge from Chapter 11 “leaner” and “more efficient.”

JCK