Christian Bernard files for bankruptcy

The market slowdown has left Christian Bernard Jewelers with slow sales and limited options to access credit, due to which the company has filed a Chapter 7 bankruptcy petition with the U.S. Bankruptcy Court for the District of New Jersey, during the holiday season of 2008. The company explained that its collapse stemmed from a slump in sales and limited access to credit.

The company has assets worth around $10 million - $50 million, with equal value of liabilities, as per the court. Its business was active through 15 stores in the U.S.