Lusix, Benny Landa’s synthetic diamond company, is on the verge of filing for insolvency. The company informed its creditors of its intention to do so but did not specify the exact timing. Calcalist has also learned that the company informed its shareholders last week that it urgently needs to raise $15 million for ongoing operations and that without this capital infusion it would become insolvent. Despite some investors considering injecting additional funds, this is not believed to have occurred.
Lusix, like the entire market, has suffered from a steep drop in the prices of synthetic diamond raw materials. The price drop from $300 to $30 per carat over several years has led to the closure of several companies worldwide that struggled…
