By  on July 24, 2009

Jewelry brand Penny Preville has gotten a new lease on life from NEI Fashions LLC.

The U.S. Bankruptcy Court in the Eastern District of New York on July 13 approved the sale of the business assets of JPPS Inc., doing business as Penny Preville, to NEI Fashions for $1.5 million. Court papers in November said assets totaled $7 million, while liabilities totaled $8.5 million.

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