Jewlr: the brand went to Unique Designs before the bankruptcy

Among the 106 numbered entries on Jewlr's list of liabilities are jewellery companies in Dongguan, Guangzhou, Wuzhou and Yiwu in China and in Kowloon, Hong Kong, Nardi Gold Srl of Subbiano, Italy, and companies in Istanbul and Bangkok. One entry for UPS Canada is $179,720.38. Meta Platforms Inc (Facebook) is listed at $448,878.39 and Google LLC at $809,511.65, the two largest entries after number 16, Canadian Imperial Bank of Commerce, at $17,069,418.35. Against $19,396,379.42 of liabilities the statement of affairs sets one asset, deposits in a CIBC Bank account at 120 S. LaSalle Street in Chicago, valued at $1.00, per the Statement of Affairs (Jewlr), Oct. 1, 2026, in Creditor's Package, Oct. 6, 2026, pp. 4–5, 7–8, 10–15, 17–19.

6888887 Canada Inc. carried on business as Jewlr. Incorporated under the Canada Business Corporations Act on December 12, 2007, it "operated an e-commerce business specializing in personalized jewelry products under the Jewlr brand," in the words of its trustee, MNP Ltd., per the Trustee's Preliminary Report to Creditors (Jewlr), Oct. 16, 2026, p. 1. An affiliate, Safyre Labs Inc., incorporated under Ontario's Business Corporations Act on October 1, 2022, ran a software business "providing end-to-end online solutions for direct-to-consumer businesses," per the Trustee's Preliminary Report to Creditors (Safyre), Oct. 16, 2026, p. 1. Both worked out of Unit 112 at 5050 Dufferin Street in North York, and each made an assignment in bankruptcy on October 2, 2026, which took effect on October 5 when the Office of the Superintendent of Bankruptcy accepted it, MNP's reports say. The official receiver's certificates put Jewlr's bankruptcy at 8:58 a.m. that day, estate No. 31-3432647, and Safyre's at 9:02 a.m., estate No. 31-3432652, both in the Toronto division with MNP as trustee, per the Certificate of Appointment (Jewlr), Oct. 5, 2026 and the Certificate of Appointment (Safyre), Oct. 5, 2026.

On September 14, 2026, before either company assigned, the two sold substantially all of their operating assets to Unique Designs under an asset purchase agreement. Jewlr's inventory, computers, equipment and other fixed assets went in the sale, with its intellectual property and intangible assets, "including those associated with the Jewlr brand"; so did Safyre's computers, furniture, fixtures and other fixed assets and its "intellectual property, technology platform and other intangible assets," per the Jewlr report, Oct. 16, 2026, pp. 3–4 and the Safyre report, Oct. 16, 2026, p. 3.

328 prospective purchasers, three expressions of interest

Richard Nathan, who swore both statements of affairs on October 1, 2026, gave the reason for each company's financial difficulty as one ticked box, "Lack of Working Capital/Funding," per the Jewlr Statement of Affairs, Oct. 1, 2026, pp. 4, 19 and the Safyre Statement of Affairs, Oct. 1, 2026, pp. 4, 7. MNP's reports of October 16 describe "financial difficulties resulting from liquidity constraints and an inability to meet their debt repayment obligations," and a search for a buyer that began in early 2026 with management's own approaches, per the Jewlr report, Oct. 16, 2026, pp. 1–2, 6 and the Safyre report, Oct. 16, 2026, pp. 1–2, 5.

Management first went to prospective purchasers in its network that it considered might have an interest in "the jewelry, fashion, beauty and broader consumer sectors." Those efforts included substantive discussions with three investment firms, three competing jewellery companies and the founder of Jewlr, and none of them elected to proceed, per the Jewlr report, Oct. 16, 2026, p. 2 and the Safyre report, Oct. 16, 2026, p. 2. In April 2026, after discussions with a number of prospective financial advisers, the companies retained Centerstone Capital, which the Jewlr report calls "a US based M&A advisor," to run a broader sale process. Centerstone began work in late April and, with management, prepared investor and marketing materials, among them a confidential information memorandum and an electronic data room, per the Jewlr report, Oct. 16, 2026, p. 2 and the Safyre report, Oct. 16, 2026, p. 2.

Beginning in May, by the reports' count, Centerstone contacted 328 prospective purchasers, 48 of them strategic parties and 280 financial buyers. Fifty signed confidentiality agreements and received the memorandum, and 47 were given access to the data room. The marketing and diligence ran through the spring and early summer, and after reviewing the memorandum and other diligence materials "a number of parties elected not to proceed further." Management met eight prospective purchasers, and those meetings ultimately resulted in "three written expressions of interest, which reflected proposed valuations ranging from approximately US$3 million to US$5 million," per the Jewlr report, Oct. 16, 2026, p. 2 and the Safyre report, Oct. 16, 2026, p. 2.

The companies and their advisers chose Unique Designs, a buyer based in New Jersey: "Management advised the Trustee that the Purchaser was selected based on its assessment of the proposal and, in particular, the perceived likelihood and certainty of completing the transaction," per the Jewlr report, Oct. 16, 2026, p. 2 and the Safyre report, Oct. 16, 2026, p. 2. CIBC and its financial adviser, KPMG, worked with management throughout, and both "supported the decision to proceed with the Purchaser." Management also advised that Unique Designs was an arm's-length party unrelated to either company, and neither report states the price it paid, per the Jewlr report, Oct. 16, 2026, pp. 2–3 and the Safyre report, Oct. 16, 2026, p. 2.