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
TechnologyJul 10, 2026
There’s a New Blind Box for Luxury Watches Collectibles platform Arena Club’s new Time Boxes could contain a Rolex or Patek Philippe watch.
TrendsJul 10, 2026
Jade Trau Creates a Constellation of DiamondsThe “Constellation Plié” collar, our Piece of the Week, features diamonds arranged in a constellation of shining stars.
SourcingJul 10, 2026
CFO of De Beers’ Consumer-Facing Division Leaves Company Shaun Wills joined the company in 2024 and was chief financial officer of the De Beers Brands and Consumer Markets division.
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.
WatchesJul 10, 2026
Brilliant Earth Expands Into WatchesIn honor of its 20th anniversary, the jewelry brand has released a limited-edition collection of Swiss-made timepieces.
Weekly QuizJul 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 09, 2026
Boucheron’s New High Jewelry Collection Is an Ode to the Human Touch“Human Being” highlights the similarities and differences between us through five sets of jewelry that celebrate fine craftsmanship.
WatchesJul 09, 2026
Damiani Group Finalizes Acquisition of Baume & MercierRichemont will continue to provide operational services for the watch brand for a period while the group prepares to integrate it.
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.
AuctionsJul 09, 2026
Pharrell Williams’ Joopiter Hires Former Bonhams Exec to Head New Watch DivisionNate Borgelt will lead the digital auction house and content platform’s new division as head of watches.
Events & AwardsJul 09, 2026
Halstead Names 2026 Grant WinnerEnoch Platero, founder and designer behind Enoch Michael, is the first Native American jeweler to win the award.
Events & AwardsJul 09, 2026
AGS, GIA Name 2026 Beatrice Shipley Scholarship WinnerAGS also announced the recipient of its “Women in Leadership” scholarship.
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
SourcingJul 06, 2026
Gemfields CEO Sean Gilbertson Steps DownAfter eight years, Gilbertson is leaving his post at the mining company, which is currently facing a slew of operational challenges.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
SourcingJul 02, 2026
London Diamond Bourse Elects First Female PresidentCharlotte Rose said her election is “a sign that this is an industry capable of change.”
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
