Alpha Omega Files for Bankruptcy
January 03, 08
Boston-based independent jeweler Alpha Omega filed for Chapter 11 bankruptcy this week, following recent news of its rapid closure and the sudden flight of its owner to
The store reopened two days after owner Raman Handa left the country amid growing financial problems and seizure by the company’s bank of its assets, according to reports in Boston news outlets.
Alpha Omega asked the court to approve the sale of its assets by auction, according to BostonHerald.com. A lawyer representing the jewelry chain said that Alpha Omega had accumulated a debt of $18 million in business loans.
In its court filing, Alpha Omega said that it owned $12.7 million to creditors, the three largest debts are to Rolex Watch