Projo Biz Blog

Days after it unexpectedly closed its door after eight decades in business, The Colibri Group is seeking buyers for all or parts of the historic jewelry maker.

"We've had great interest from both local and national companies in terms of acquiring all or certain lines that Colibri was involved in," Allan M. Shine, the court-appointed receiver, told The Providence Journal today. "It's still very much in a state of flux."

Facing collapsing sales and burdened by more than $28 million of debt, Colibri abruptly closed last week, laying off its 280 employees, The Providence Journal reported.

Ten employees have since returned to work, helping to ship completed products so that the company may begin paying back its creditors, Shine said. In the meantime, Shine is looking to sell all or some of Colibri's well-known product lines, offering former rivals the raw materials, finished products, licensing agreements and customer information.

 Tags  bankruptcy Colibri East Providence economic development economy jewelry making jobs Providence

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