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.
Editors' Picks
Sponsored by
More on Majors
The Latest
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
CollectionsJun 18, 2026
Michelle Obama Wears Almasika Earrings Symbolizing Feminine PowerShe wore the “Le Cauri Endiamanté” earrings, our Piece of the Week, in the Obamas’ first dual portrait for the Obama Presidential Center.
PodcastsJun 17, 2026
Episode 6: Las Vegas 2026-Trends, Traffic, Broken BathroomsCouture’s Michelle Orman joins Amanda Gizzi and Michelle Graff for this special post-Market Week episode of My Next Question.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 17, 2026
SSEF Issues Warning on Refilled EmeraldsThe lab is seeing emeralds with filler added post-testing enter the market, accompanied by reports that indicate little to no treatment.
Weekly QuizJun 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesJun 17, 2026
Patek Philippe’s ‘Visionary’ Leader Philippe Stern Dies at 88 The third generation of the Stern family to head Patek Philippe, he navigated the “quartz crisis” and preserved the brand’s independence.
Policies & IssuesJun 17, 2026
Community for Ethical Jewelry Names New Executive DirectorMarianna Smirnova previously spent a decade working with the Responsible Minerals Initiative, in addition to other relevant roles.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 16, 2026
5 Things to Know About the 2026 NBA Championship TrophyThe New York Knicks took home the Larry O'Brien Trophy crafted by Tiffany & Co.
TrendsJun 16, 2026
Post-Vegas Jewelry Trend Report: Big Beads, Western Flair, White MetalsAssociate Editor Natalie Francisco lists the trends she spotted during Jewelry Market Week that will dominate the second half of 2026.
SourcingJun 16, 2026
GemGuide Updates Ruby PricesIts app now reflects increased prices for Mozambique ruby, as well as changes to its Burma ruby charts.
MajorsJun 16, 2026
Sasha Primak Hires New Design DirectorThe manufacturer has tapped Alicia Arnold, the former director of custom design at Tiny Jewel Box.
IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
SourcingJun 11, 2026
Grandview Klein, London Jewelers Partner To Cut 63-Carat RoughThe big stone will be fashioned into a 20.26-carat diamond in celebration of the retailer’s 100th anniversary this year.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
SourcingJun 11, 2026
Signet Jewelers Exec Joins Diamonds Do Good BoardIlana McCabe is Signet’s vice president of public relations and brand communications.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
