Editor’s Note
Lucardi narrowly avoided collapse after creditors, including tax authorities and suppliers, made major concessions to keep the Dutch jewelry chain afloat amid pandemic fallout and rising costs.
The Dutch jewelry chain Lucardi narrowly avoided bankruptcy thanks to significant concessions from its creditors. The tax authorities and suppliers dug deep into their pockets to keep the company afloat.
Lucardi, known for its affordable jewelry, ran into trouble due to a combination of factors. The COVID-19 pandemic left a legacy of deferred taxes, while rising labor and energy costs and cautious consumers subsequently undermined the recovery. According to Mentha Capital, which has been a major shareholder since 2018, success failed to materialize due to “unforeseen” circumstances.