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
CollectionsSep 28, 2026
De Beers London Drops Water-Inspired High Jewelry Collection“Vibrations” features several firsts for De Beers’ high jewelry, including the use of chalcedony and diamonds sourced from artisanal miners.
CollectionsSep 28, 2026
Jessica McCormack Turns to Classic Motif for New CollectionThe “Bows” collection features three interpretations of the bow motif designed with Georgian and Victorian influences.
Events & AwardsSep 28, 2026
Guy Borenstein, Troy Underwood Among the Professionals Honored at AGS Conclave 2026The American Gem Society recognized industry members, one Guild, and a law enforcement official for their contributions to jewelry.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
FinancialsSep 28, 2026
Instappraise, Jewelers Mutual Look to Simplify Jewelry InsuranceThrough a new system integration, customers can now receive instant personal jewelry insurance quotes at the time of appraisal.
Weekly QuizSep 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
WatchesSep 25, 2026
Smaller Rolex Watches Showing Strength on Secondary Market, Data ShowsFive of the 10 fastest-appreciating Rolex models on Bob’s Watches were Datejust 31 or Lady Datejust watches.
Lab-GrownSep 25, 2026
Brilliant Earth Collabs with Elizabeth Taylor Estate on Jewelry Collection“The Elizabeth Taylor Collection” uses lab-grown diamonds and gemstones in contemporary designs inspired by the icon.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
TrendsSep 25, 2026
A Peek at Taylor Swift’s Game-Day DiamondsThe artist wore Dana Rebecca Designs’ marquise diamond-set gold hoops at the Chiefs game last Sunday. Now they’re our Piece of the Week.
CrimeSep 24, 2026
From Conclave: Security Measures Jewelers Should Be TakingJSA and Jewelers Mutual shared advice on spotting suspicious behavior, combatting cell phone jammers, and staying safe at home.
AuctionsSep 24, 2026
8-Carat Blue Diamond Heads to UK Jewelry AuctionThe fancy light blue diamond is estimated to fetch up to $2.6 million at Elmwood’s next week.
TrendsSep 24, 2026
This New Jewelry Book Decodes the Secret Meaning in Victorian Jewelry“Secret Language of Victorian Jewelry” unveils the meaning behind the symbols, motifs, and gemstones used in Victorian-era jewelry.
Lab-GrownSep 24, 2026
Kira Jewels Opens B2B E-Commerce Portal for Lab-Grown Diamond Jewelry KIRAJewels.one gives retailers access to more than 500 SKUs of lab-grown diamond rings, earrings, necklaces, and bracelets.
TrendsSep 23, 2026
Holiday Diamond Jewelry Trends: Layered Looks, PersonalizationThis holiday season, look to pieces that will help to fill out customers’ everyday diamond jewelry wardrobe, experts say.
SourcingSep 23, 2026
Organization That Promotes Natural Diamond Rebrands for Third Time The Natural Diamond Council is now The Diamond Collective and has announced a new strategy under CEO Amber Pepper.
IndependentsSep 23, 2026
This Milwaukee-Area Jeweler Is Serving the 7CsPaul’s Jewelers sells coffee, chocolate, and cookies from a custom gold-wrapped trailer parked outside the store starting at 7 a.m.
Events & AwardsSep 23, 2026
Tiffany & Co. Exhibition Opening at Arkansas Museum The curation, opening soon at the Crystal Bridges Museum of American Art, honors the jeweler’s heritage through a distinctly American lens.
CollectionsSep 23, 2026
Pucker Up for Pandora’s New Pat McGrath Jewelry CollabThe jewelry giant has partnered with the famed makeup artist to create a colorful new collection of charms and rings.
IndependentsSep 23, 2026
Texas Jewelers Association to Celebrate 120th AnniversaryThe association will mark the milestone at its convention next month.
IndependentsSep 23, 2026
Sissy’s Log Cabin’s ‘Back to School and Bling’ Event ReturnsThe jeweler donated school supplies to Memphis, Tennessee, students during the event combining basketball and mentorship.
MajorsSep 22, 2026
Foundrae’s Lawsuit Against Pandora Can Continue, Court RulesA federal judge denied Pandora’s motion to dismiss Foundrae’s claim for copyright infringement of its medallions.
ColumnistsSep 22, 2026
Peter Smith: Our Struggle With Emotional SellingPeople aren’t thinking rationally when they are buying luxury products, and we shouldn’t be selling them that way, Peter Smith writes.
IndependentsSep 22, 2026
Constance Polamalu Named to '40 Under 40' ListThe Baltimore Business Journal recognized the entrepreneur for her leadership in business and the jewelry industry.
GradingSep 22, 2026
GCAL by Sarine Opens New Lab in MumbaiThe facility is located within SEEPZ and is GCAL by Sarine’s second location in India, joining its existing grading lab in Surat.
Events & AwardsSep 22, 2026
NYCJAOS Returns for Autumn EditionThe four-day show is slated for Nov. 19-22 at the Metropolitan Pavilion in New York City’s Chelsea neighborhood.
AuctionsSep 21, 2026
Ultra-Rare Cartier Cheich Watch Sells for $3.4M Offered at Sotheby’s Hong Kong, the one-of-a-kind white gold watch now holds the title of most valuable Cartier wristwatch sold at auction.
