Luxist

Japanese jeweler Niwaka, which had a two-story store on Fifth Avenue and 49th Street in New York City is closing up shop and liquidating its U.S. holdings. Crains New York reports that Niwaka USA Inc. filed for Chapter 7 last week showing assets between $100,000 and $500,000 and estimated liabilities of $1 million to $10 million. The store opened in November 2007 and offered bridal and other jewelry in a uniquely Japanese style that is minimalist and elegant rather than flashy or loaded with large stones. The company will continue to run its Tokyo flagship. 26/05/09