L.I.D. Reaches Agreement With Banks

L.I.D., which has been operating under Chapter 11 since March, said its lender banks have agreed to a long-term financing agreement that will allow the New York–based diamond jewelry company to accelerate its growth plans for the foreseeable future.

“We are a more viable company today, as our plan continues to exceed projections,” said L.I.D. president David Elishayov.

De Beers and LVMH are partners in the De Beers Diamond Jewellers retail chain.