Thu, Feb 27, 2020
RJ Watches SA, a luxury Swiss watchmaker, has announced the company's plans for bankruptcy application.
In a statement, the company said the Board of Directors of RJ Watches has been informed of the decision of Alliance Investment Group SA, its majority shareholder, to stop investing in the company.
"This unpredictable decision was communicated with immediate effect, which makes the continuation of the business impossible and the search for a possible buyer impossible within such short time," it said.
Consequently, the Board of Directors of RJ Watches has no other choice than to file for the bankruptcy of the company and the dismissal of all of its employees, it said.
"Marco Tedeschi, CEO and the entire RJ team deeply regret this decision, which cuts 33 jobs and ends a great journey," it added.
RJ designs and produces recognisable, ambitious, and culturally relevant luxury Swiss watches. RJ has made its own mark on modern watchmaking with its Collaboration watch series, which draws inspiration from icons of pop culture, from superheroes of DC Comics or Marvel like Batman and Spider-Man, to beloved video game characters like Super Mario, Space Invaders, or Pac-Man.
-
Tory Burch opens new store in Riyadh
Sun, Nov 22, 2020 -
Star-studded glitz from Roger Dubuis
Wed, Oct 21, 2020 -
Omega's tribute to its ‘Silver Snoopy Award’
Wed, Oct 7, 2020 -
Tonda Reine de Mai inspired by flowers
Tue, Oct 6, 2020 -
Natural Diamond Council launched with new campaign
Tue, Sep 29, 2020 -
Mouawad reveals spectacular yellow diamond
Thu, Aug 27, 2020 -
Omega celebrates launch of 321-powered Moonwatch
Wed, Aug 19, 2020 -
New collections back Walk for Giants
Mon, Aug 17, 2020 -
1970 Rolex star of Bonhams sale
Thu, Aug 13, 2020 -
Omega launches new Constellation gent's collection
Tue, Aug 11, 2020 -
Uniquely crafted luxury eyewear
Thu, Aug 6, 2020 -
Omega offers six new straps
Tue, Jul 21, 2020 -
Stargems to donate 10pc revenue to Dubai Cares drive
Sun, Jun 21, 2020 -
A new talent joins Vacheron campaign
Wed, May 27, 2020 -
Boucheron unveils new Timeless pieces
Thu, May 7, 2020