Lab-GrownAug 16, 2022
Pandora’s Lab-Grown Diamond Line Heads to the U.S.MajorsAug 25, 2022
Fresh Out of Bankruptcy, Alex + Ani Gets $17M Loan
Second Avenue Capital Partners announced the closing of a $17.5 million senior secured credit facility for the jewelry company.
The Alex and Ani “Armenian Flower” bangle. The jewelry company recently closed on a $17.5 million loan, which it will use to continue to rebuild after emerging from bankruptcy.
Boston—Alex and Ani LLC has secured a multimillion-dollar loan that will go toward working capital and business operations as it continues to rebuild after emerging from bankruptcy.
Second Avenue Capital Partners (SACP) announced the closing of the $17.5 million senior secured credit facility on Wednesday.
Scott Burger, the former Pandora executive who was named CEO of Alex and Ani in January, said the loan is an “affirmation of the resiliency” of the Alex and Ani brand.
“We create jewelry that connects with a customer’s emotions. It was essential for us to partner with a lender that could appreciate the intangible value of that emotional connection and recognize the benefit it will have on our continued evolution,” he said, noting SACP’s commitment to the company’s goals and its experience in jewelry.
The Boston-based lender closed on a $10 million loan to myGemma, an online resale site for luxury goods including jewelry and watches, in April.
In May, it provided a senior secured credit facility to Maria Tash, the brand founded by designer Maria Tashjian and known as an innovator in piercings. The amount of the loan was not disclosed.
Regarding the loan to Alex and Ani, SPAC President Chris O’Connor said: “Alex and Ani has embarked on a new journey this year. Expanded leadership has allowed the company to take a step back and focus on the foundation of the business. Alex and Ani cornered this market years ago and now they’re assembling the underlying structure to support the volume.
“They have an enormous opportunity for growth and we’re eager to help them achieve their objectives and execute on their strategy.”
Founded in Rhode Island in 2004 by Carolyn Rafaelian, who named the company after her daughters, Alex and Ani’s inexpensive, expandable wire charm bracelets became wildly popular in the early 2010s.
The bracelets were sold at Alex and Ani stores nationwide and via retail partners, including both chain stores and independent jewelers, with annual revenue totaling hundreds of millions of dollars.
Over time, the buzz around the bracelets faded and the company found itself saddled with debt related to its explosive growth, embroiled in legal battles, and grappling with constant turnover among its executive ranks.
Rafaelian left the company in 2020.
The pandemic hit the already struggling company particularly hard and Alex and Ani filed for Chapter 11 bankruptcy protection in June 2021 with hopes of finding a buyer.
None emerged and in September of that year a judge OK’ed a Chapter 11 reorganization plan under which private equity firm Lion Capital LLP purchased debt Alex and Ani owed to various banks and upped its stake in the company to 65 percent from 59 percent.
A company called the Bathing Club LLC bought the remaining 35 percent of the company.
MajorsAug 09, 2022
Signet to Buy Blue Nile in $360M Deal
MajorsJun 11, 2021
Alex and Ani Files for Bankruptcy More on Majors
The Latest
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
