Michael Beaudry Files Chapter 11

Another red carpet jeweler has filed Chapter 11. Michael Beaudry Inc., puts its estimated creditors at between 50 and 99 with assets ticked in at between $10 million and $50 million. Sister company Centerstone Diamonds filed for Chapter 11 at the same time. The company's total debts were not listed but the top 20 creditors are owed over $2 million. Michael Beaudry is second generation jeweler, his uncle was a diamond cutter. Beaudry began as a diamond cutter and moved into making jewelry, rising quickly to become a celebrity favorite.

Back in February, Beaudry put a lavish Beverly Hills home on the market. It remains listed at $13.5 million.

Posted via email from Whiteflash Diamonds posterous