David Webb fine jewelers, a bankrupt New York-based firm that operates a Madison Avenue boutique and a salon in the Regent Beverly Wilshire Hotel in Beverly Hills, has been acquired by a group of three buyers.
Financial terms were not disclosed.
The purchasers were Sima Ghadamian, chief executive officer and founder of Sima G. Ltd. and Moonbeam Consulting, and Robert Sadian and Mark Emanuel, co-owners of European Art & Antiques. They are three of the four fine jewelers comprising FOF Inventory Holding, which acquired part ownership in estate jeweler Fred Leighton last November.
David Webb, a 62-year-old company known for its nature-inspired collection with ruby, emerald and sapphire cabochons, had been under ownership of the Silberstein family since 1975. The firm filed for Chapter 11 bankruptcy protection in June 2009, citing an “increase in operating costs and a decrease in sales due to poor economic conditions, resulting in substantial cash flow difficulties.”