Several Indian firms face bad debts with Whitehall

Whitehall Jewelers Holdings has to deal with a heavy load of debt, as reports surfaced. Owing to its inability to pay off its creditors, the jeweller had filed for Chapter 11 protection. Its financial reports say that it owes a total of $88.1 million to 30 of its largest creditors without collateral backing their claims.

Amongst these 30 companies are some Indian-owned firms - Sangam Diamond Corp. and Kiran Jewels Inc., to which it owes $11.32 million and $9.41 million, respectively.

Rosy Blue has to claim $6.9 million, Rosy Blue Jewelry Inc. -$3.2 million, Jewelex Ltd. - $2.91 million, Sumit Diamond Corp -$2.74 million and Uni Design USA -$1.35 million.