Lusix, the synthetic diamond company founded by Benny Landa, is on the brink of filing for insolvency. The company has informed its creditors of its intention to do so, though the timing remains uncertain.
Sources have told Calcalist that Lusix informed its shareholders last week that it urgently needs to raise $15 million to continue operations. Without this capital infusion, the company will likely become insolvent. Although some investors have considered providing additional funds, it is not believed that this has materialized.
Lusix, like the broader synthetic diamond market, has been hit hard by a sharp decline in raw material prices. The price of synthetic diamond material has plummeted from $300 to $30 per carat in recent years,…
