PC Jeweller: From shining star to insolvency?
Finshots Daily
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PC Jeweler's Troubled History
PC jeweler began struggling to turn over its gold inventory from an average of 200 days in FY18. The cash simply stopped coming in and it was also having trouble with its export side of things too. At one point, the company had to write off hundreds of crores of money due as a discount. It defaulted on its 3400 crore rupee bank loan in 2022. And that forced SBI to take action. So will the 18 year old firm finally be forced to declare itself bankrupt or is another outcome of the cards? We'll have to wait till the 21st of August to hear what the court has to say now.
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