MajorsJan 14, 2026
Saks Files for Bankruptcy, Names New CEOMajorsJan 22, 2026
Lugano Diamonds Finds a Buyer
Investment firm Enhanced Retail Funding, a division of Gordon Brothers, was the successful bidder.
Lugano Diamonds’ store in Greenwich, Connecticut. The jewelry retailer filed for Chapter 11 bankruptcy protection in November 2025 and has since found a buyer.
Newport Beach, Calif.—Lugano Diamonds & Jewelry Inc. has found a buyer following its Chapter 11 bankruptcy filing in November.
The retailer had reached an agreement with Enhanced Retail Funding to help continue operations during the sale process. The investment firm also served as the stalking-horse bidder while Lugano hunted for a buyer, meaning it submitted the bid that served as the baseline for the sale process.
Enhanced Retail Funding ultimately was the buyer, as per a Dec. 20 court filing.
The sale was approved on Dec. 31, with Lugano stating the company provided “the highest or otherwise best offer.” The amount of the bid was not disclosed.
Enhanced Retail Funding is a division of Boston-based Gordon Brothers. Founded in 1903, the investment firm focuses on retail, including lending and asset appraisals.
In the past, Gordon Brothers has worked with jewelry brand Judith Ripka and independent jewelers like Hyde Park Jewelers and Lux Bond & Green, as per its website.
The retailer’s bankruptcy filing and eventual sale followed the departure of the high-end jewelry manufacturer and retailer’s CEO and co-founder Mordechai “Moti” Ferder in May.
Ferder resigned after a preliminary investigation by parent company Compass Diversified revealed “irregularities” in the retailer’s financing, accounting, and inventory practices, announced in an 8-K filing.
Compass Diversified, a private equity firm, acquired a majority interest in the retailer in 2021 for $256 million, with Ferder retaining 40 percent of Lugano Diamonds.
In June, Lugano Diamonds sued Ferder alleging fraud, concealment, constructive fraud, and breach of fiduciary duty.
Ferder is accused of concealing and misrepresenting the nature of select financial transactions, an allegation he denied in a statement shared by his lawyer in November.
“Mr. Ferder is confident that the judicial process will bring the full truth to light and that he will be vindicated,” his attorney said in a statement to National Jeweler.
Josh Gaynor, who has been serving as interim CEO of Lugano, told the Orange County Business Journal that he plans to stay with the company.
Founded in 2004 by Ferder and his wife, Idit, Lugano Diamonds currently operates seven stores in affluent cities like Aspen, Colorado, and Palm Beach, Florida.
The stores have remained open during the bankruptcy proceedings.
Lugano recently closed its London boutique, as per court documents. It also said late last year that it planned to close its stores in Greenwich, Connecticut, and Washington, D.C., which were no longer listed on its website as of press time.
The next hearing in the retailer’s bankruptcy case is scheduled for Feb. 3 at the U.S. Bankruptcy Court for the District of Delaware in Wilmington.
The retailer had reached an agreement with Enhanced Retail Funding to help continue operations during the sale process. The investment firm also served as the stalking-horse bidder while Lugano hunted for a buyer, meaning it submitted the bid that served as the baseline for the sale process.
Enhanced Retail Funding ultimately was the buyer, as per a Dec. 20 court filing.
The sale was approved on Dec. 31, with Lugano stating the company provided “the highest or otherwise best offer.” The amount of the bid was not disclosed.
Enhanced Retail Funding is a division of Boston-based Gordon Brothers. Founded in 1903, the investment firm focuses on retail, including lending and asset appraisals.
In the past, Gordon Brothers has worked with jewelry brand Judith Ripka and independent jewelers like Hyde Park Jewelers and Lux Bond & Green, as per its website.
The retailer’s bankruptcy filing and eventual sale followed the departure of the high-end jewelry manufacturer and retailer’s CEO and co-founder Mordechai “Moti” Ferder in May.
Ferder resigned after a preliminary investigation by parent company Compass Diversified revealed “irregularities” in the retailer’s financing, accounting, and inventory practices, announced in an 8-K filing.
Compass Diversified, a private equity firm, acquired a majority interest in the retailer in 2021 for $256 million, with Ferder retaining 40 percent of Lugano Diamonds.
In June, Lugano Diamonds sued Ferder alleging fraud, concealment, constructive fraud, and breach of fiduciary duty.
Ferder is accused of concealing and misrepresenting the nature of select financial transactions, an allegation he denied in a statement shared by his lawyer in November.
“Mr. Ferder is confident that the judicial process will bring the full truth to light and that he will be vindicated,” his attorney said in a statement to National Jeweler.
Josh Gaynor, who has been serving as interim CEO of Lugano, told the Orange County Business Journal that he plans to stay with the company.
Founded in 2004 by Ferder and his wife, Idit, Lugano Diamonds currently operates seven stores in affluent cities like Aspen, Colorado, and Palm Beach, Florida.
The stores have remained open during the bankruptcy proceedings.
Lugano recently closed its London boutique, as per court documents. It also said late last year that it planned to close its stores in Greenwich, Connecticut, and Washington, D.C., which were no longer listed on its website as of press time.
The next hearing in the retailer’s bankruptcy case is scheduled for Feb. 3 at the U.S. Bankruptcy Court for the District of Delaware in Wilmington.
More on Majors
The Latest
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
FinancialsApr 15, 2026
Kering’s Jewelry Shines in Q1, Gucci’s Struggle ContinuesThe luxury giant discussed the Middle East conflict and its transformation plans, hinting at a stronger jewelry presence in North America.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
FinancialsApr 14, 2026
LVMH’s Q1 Sales Sink 6% Amid Middle East ConflictPlus, how Saks Global’s bankruptcy affected the luxury giant’s first quarter.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
