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January 02, 1993|From Times Staff and Wire Reports

Jewelry Chain Files for Bankruptcy: Diamond Designs, a retail jewelry chain in San Diego, filed for Chapter 11 bankruptcy protection from its creditors, citing depressed sales and failed renegotiations of its leases. Bob Silverman, president of the chain, said the five stores will continue to operate and all 70 employees will remain on staff as he and other company officials form a plan to keep the stores solvent. The filing with the bankruptcy court lists assets of $2 million and liabilities of $2.5 million, owed to at least 140 creditors.

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