Japanese jeweler Niwaka is liquidating its U.S. operations and closing its store on Fifth Avenue and 49th Street, according to a report in Crain’s New York.
Under Niwaka USA Inc., the company filed for Chapter 7 on Tuesday, citing less than 50 creditors, assets between $100,000 and $500,000, and estimated liabilities of $1 million to $10 million, the business newspaper reports.
The fine-jewelry company opened its 3,000-sq.-ft., bi-level store on 608 Fifth Ave. in November 2007. The company originally had a store in SoHo, which closed in 2000.
Niwaka maintains a flagship in Tokyo, and specializes in bridal jewels.
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