Editor’s Note
PJA Diamond Jewelry Co., Ltd. has announced its closure after a 45-day management period, issuing a farewell letter to customers and partners.
On the afternoon of July 17, PJA Diamond Jewelry Co., Ltd. (located at 413 Vo Van Tan Street, Ban Co Ward, Ho Chi Minh City), a company specializing in the purchase and sale of diamond jewelry, sent a ‘farewell letter’ after a 45-day period of management and attempts to settle accounts.
On its Facebook page, PJA officially announced a farewell letter stating:
According to PJA, this is an extremely difficult decision. Throughout its journey, from the first customers who discovered PJA to its growth over the years, customers have helped PJA create unforgettable memories. PJA is honored to have earned the trust and choice of its customers to accompany them in important moments, a source of pride and a shining example of the true value and distinction of natural diamonds.
The statement said: Throughout its journey, PJA has always prioritized product quality, meeting the highest standards, while offering extremely accessible prices, earning recognition from customers nationwide. Having successfully maintained its diamond jewelry business, as I write these words, PJA still fondly remembers every moment and precious memory. However, facing the turbulent reality of the crisis and the management of seemingly unrelated events that caused numerous repercussions, customer anxiety and panic soared, causing a sudden increase of over 90% in resale transactions and nearly paralyzing liquidity. Over the past 10 years, PJA had never made its customers wait a single day in exchange transactions; all transactions were processed as quickly as possible on the same day. During this crisis, PJA faced the situation and strived to maintain liquidity for 45 consecutive days, working tirelessly to reverse the situation in hopes of preserving its established brand and customer trust. However, today, PJA has no other choice, despite its desire to continue its long collaboration with its valued customers. Even upon ceasing operations, PJA affirms that
The company issued this announcement suddenly, despite the fact that the night before, its social media page was still live-streaming images of diamond products. This move by PJA comes amid a situation where customers are selling more diamonds than they are buying, causing liquidity problems in many stores. Several jewelry stores in the An Dong and Ben Thanh markets (Ho Chi Minh City) had already closed their doors previously.
