Lucien Piccard Files Chapter 11

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.