JewelPops Inc., the company behind the popular Kameleon jewelry brand, has filed for bankruptcy in Canada.
A Canadian bankruptcy database shows that JewelPops Inc. filed for bankruptcy on July 27. Grant Thornton was appointed insolvency trustee.
A note attributed to the company and posted on social media by a brand retailer said that JewelPops Inc. had closed its doors on July 31 but hoped that its brands would find a new home.
“The changing retail landscape in both the jewelry and the gift sectors as well as rising costs in all areas of operations in our wholesale sector made it impossible to continue with the business model as it existed,” the company said. “While the company has closed its doors, the brands are very much alive, and there are ongoing talks and negotiations with various interested parties to purchase them and continue to make these brands available.”
Grant Thornton did not return a request for an update, nor did Toronto-based Lynx Equity, which purchased the brand in 2013.
A call to the company’s customer service line said the number had been disconnected. No one answered the phone at its headquarters. Emails to its president and its website were not returned, though the website is still online. Its Facebook page, which once counted more than 180,000 fans, appears to be down, as is its Instagram page. Its Twitter account is still up, but nothing has been posted since July.
Founded in 2007 by Robert and Allison Smith, the company won fans among the trade and consumers with its Kameleon line of silver interchangeable jewelry, which included rings, pendants, bracelets, and watches. Other brands under the JewelPops umbrella included the Boudicca and the ICE 925 line, which featured Canadian diamonds. In 2012, a magazine ranked it as the fifth fastest-growing company in Canada.
Top: Necklace in the Kameleon 10th anniversary collection (photo courtesy of CNW Group/JewelPops International)