The Board of Directors of RJ Watches SA regrets to announce the company's bankruptcy application
Feb 27, 2020
The Board of Directors of RJ Watches has been informed of the decision of Alliance Investment Group SA, its majority shareholder, to stop investing in the company. This unpredictable decision was communicated with immediate effect, which makes continuation of the business impossible and the search for a possible buyer impossible within such short time.
Consequently, the Board of Directors of RJ Watches has no other choice than to file for the bankruptcy of the company and the dismissal of all of its employees.
Marco Tedeschi, CEO and the entire RJ team deeply regret this decision, which cuts 33 jobs and ends a great journey.