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.