FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceLab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price Pressures
Increased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
The Charles & Colvard showroom in Morrisville, North Carolina. The company, which sells moissanite as well as lab-grown diamonds, filed for bankruptcy this week.
Morrisville, N.C.—Moissanite maker Charles & Colvard, which has faced an ever-increasing amount of competition in the man-made gemstone space in recent years, has filed for Chapter 11 bankruptcy protection.
Based in Morrisville, North Carolina, part of the state’s tech-focused Research Triangle region, the company filed Tuesday in U.S. Bankruptcy Court for the Eastern District of North Carolina.
The company, which was founded 31 years ago, makes, markets, and distributes Charles & Colvard Created Moissanite, as well as Forever One, its higher end moissanite brand.
In September 2020, it expanded into lab-grown diamonds with its own brand, Caydia.
Charles & Colvard sells online, through retailers, and in 2022, opened its own store on its campus in Morrisville.
In an affidavit filed Tuesday, Executive Chairman of the Board Michael Levin stated that the company’s annual revenues totaled about $16 million in 2025.
That is down 27 percent when compared with 2024 ($22 million) and is half what the company pulled in in 2023 ($30 million), the company’s Form 10-K for FY 2024 shows.
Charles & Colvard has operated at a loss for the past three years (2025, 2024, and 2023) and continues to lose money in 2026.
In the affidavit, Levin elaborates on the factors that pushed the company into bankruptcy—falling lab-grown diamond and, subsequently, moissanite prices; skyrocketing precious metal prices; and increased competition from companies like Brilliant Earth and Blue Nile.
He wrote, “In the last decade, lab-grown diamonds and gemstones have transformed the diamond industry; consumers have shifted towards lab-grown diamonds and gemstones as a more affordable alternative to natural diamonds in fine jewelry and engagement rings.
“The market has seen a steep increase in consumer demand for lab-grown diamonds and gemstones; however, increasing saturation in the market of companies producing lab-grown diamonds and gemstones continues to drive down the value of these gems.”
Levin also mentioned inflation—which has hurt demand among lower- and middle-income consumers—and the financial and legal difficulties the company has faced, including being delisted from Nasdaq and its arbitration dispute with semiconductor manufacturer Wolfspeed Inc.
In effort to cut costs, the company laid off employees, reviewed and renegotiated vendor contracts, consolidated its supply chain, and switched to a more “cost-effective” freight partner in 2025.
In the months leading up to its early March bankruptcy filing, the company unsuccessfully tried to secure alternative financing.
Related stories will be right here …
Based in Morrisville, North Carolina, part of the state’s tech-focused Research Triangle region, the company filed Tuesday in U.S. Bankruptcy Court for the Eastern District of North Carolina.
The company, which was founded 31 years ago, makes, markets, and distributes Charles & Colvard Created Moissanite, as well as Forever One, its higher end moissanite brand.
In September 2020, it expanded into lab-grown diamonds with its own brand, Caydia.
Charles & Colvard sells online, through retailers, and in 2022, opened its own store on its campus in Morrisville.
In an affidavit filed Tuesday, Executive Chairman of the Board Michael Levin stated that the company’s annual revenues totaled about $16 million in 2025.
That is down 27 percent when compared with 2024 ($22 million) and is half what the company pulled in in 2023 ($30 million), the company’s Form 10-K for FY 2024 shows.
Charles & Colvard has operated at a loss for the past three years (2025, 2024, and 2023) and continues to lose money in 2026.
In the affidavit, Levin elaborates on the factors that pushed the company into bankruptcy—falling lab-grown diamond and, subsequently, moissanite prices; skyrocketing precious metal prices; and increased competition from companies like Brilliant Earth and Blue Nile.
He wrote, “In the last decade, lab-grown diamonds and gemstones have transformed the diamond industry; consumers have shifted towards lab-grown diamonds and gemstones as a more affordable alternative to natural diamonds in fine jewelry and engagement rings.
“The market has seen a steep increase in consumer demand for lab-grown diamonds and gemstones; however, increasing saturation in the market of companies producing lab-grown diamonds and gemstones continues to drive down the value of these gems.”
Levin also mentioned inflation—which has hurt demand among lower- and middle-income consumers—and the financial and legal difficulties the company has faced, including being delisted from Nasdaq and its arbitration dispute with semiconductor manufacturer Wolfspeed Inc.
In effort to cut costs, the company laid off employees, reviewed and renegotiated vendor contracts, consolidated its supply chain, and switched to a more “cost-effective” freight partner in 2025.
In the months leading up to its early March bankruptcy filing, the company unsuccessfully tried to secure alternative financing.
Charles & Colvard started in 1995 as C3 Diamante Inc., later C3 Inc. It became Charles & Colvard Ltd. in 2000.
It currently has 26 employees, 25 full-time and one part-time.
It is run by Levin, who is executive chairman of the four-person board, and Chief Financial Officer Clint Pete. Former President and CEO Don O’Connell left in January and has not been replaced.
According to its bankruptcy petition, Charles & Colvard has $19.2 million in total assets, and $10.5 million in debt. Its creditors number between 100 and 199.
In a press release issued Tuesday, the company said it is looking to restructure to “better position the business for long-term success” and plans to use the Chapter 11 process as a tool to implement “broad changes.”
It is said its business operations would continue in the meantime without interruption.
“Charles & Colvard has a unique brand and product line, supported by superb employees and suppliers,” Levin said in the release.
“After thoroughly evaluating our alternatives and considering recent events and the market pressures facing our industry, the company’s board of directors decided that a court-supervised process is the best path forward to make the changes needed to ensure Charles & Colvard’s long-term success.”
GradingJun 12, 2024
IGI to Grade Charles & Colvard Moissanite
MajorsOct 17, 2022
Charles & Colvard to Open First ShowroomMore on Lab-Grown
The Latest
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
SourcingMar 03, 2026
7 Trends That Could Define the Diamond Industry’s FutureExperts from India weigh in the politics, policies, and market dynamics for diamantaires to monitor in 2026 and beyond.
MajorsMar 03, 2026
Swiss Refiner Completes Acquisition of Gannon & ScottThe American precious metals refiner’s day-to-day operations remain the same post-acquisition.
TrendsMar 03, 2026
Amanda’s Style File: AquatopiaThese aquamarine jewels channel the calming energy of the March birthstone.
Events & AwardsMar 03, 2026
AGTA Adds Another New Category for SpectrumThe “Innovative Design” category and award will debut in the Spectrum division of this year’s AGTA Spectrum & Cutting Edge Awards.
EditorsMar 02, 2026
Jewelry at the Actor Awards: Reimagining Hollywood GlamourDiamond jewelry was the star of the event formerly known as the SAG Awards.
SurveysMar 02, 2026
Consumer Confidence Edges Up in FebruaryConsumers were somewhat less worried about the future, though concerns about rising prices and politics remained.
Events & AwardsMar 02, 2026
JVC to Honor Rebecca Foerster at Annual LuncheonFoerster is this year’s Stanley Schechter Award recipient.
Events & AwardsMar 02, 2026
JFC Names 2026 ‘Facets’ Honorees Sponsorships and tickets to the annual fundraising event, set for May 31, are available now.
CrimeFeb 27, 2026
Man Charged in Murders of Father, Son Jewelers in ChicagoChicago police and members of the U.S. Marshals Service tracked down the 35-year-old suspect earlier this week in St. Louis.
