Glut Of Synthetic Diamonds Sparks Trouble For Lab-Grown Producers ...Middle East

The second-largest US producer of lab-grown diamonds has filed for bankruptcy amid a massive glut of fabricated gemstones and plunging prices.  Financial Times reports that Washington-based WD Lab Grown Diamonds filed for Chapter 7 in a Delaware bankruptcy court and had total liabilities of around $44 million and assets of $3 million. The company listed it had between 100 and 199 creditors.  In 2020, WD Lab Grown Diamonds became the first diamond company to be certified under the "Standard for Sustainable Diamonds" by third-party verifier…

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