A lawsuit has been filed in the West Australian Supreme Court relating to debts allegedly incurred by Rosendorff Diamonds’ former parent company, Clyde & Associates, between October 2022 and April 2026.
According to the Australian Financial Review , these proceedings follow the liquidation of Clyde & Associates. The Rosendorff retail business was sold to a related party before Brett Orzel of OWS Advisory assumed control of the liquidation.
The Levy family reportedly retained ownership of the retail business.
The ATO is seeking to recover the alleged debt, along with penalties, interest and legal costs, from director Yehonatan Levy. Orzel declined to comment on how the investigation into the company's affairs is progressing.
Earlier this year, Rosendorff Diamonds announced plans to move more of its business online, reduce its product range and operate by appointment only after selling its stock.
The company stated the changes were part of its long-term business plan and denied any link to financial trouble. Rosendorff started as a gift store in the early 1960s and became a luxury jewellery retailer in 1975.
The business collapsed in 2019, with a liquidation sale raising over $9 million to repay creditors. Levy later bought the business and pledged to continue the jeweller's legacy.
In July 2019, Jeweller reported that Rosendorff Diamonds had been saved at the last minute by a previously unknown buyer who was later confirmed as Macabi Diamonds’ owner Yoni Levy.
The high-profile jewellery store, which has occupied its Hay Street Mall site since 1963, collapsed in May of that year owing more than $18 million.
Receivers KordaMentha were appointed to try to recapitalise the business, searching for a buyer while holding a $9 million clearance sale. Macabi Diamonds was one of the unsecured creditors.
“I came back from a holiday and heard about the situation with Rosendorff Diamonds. I had a long-standing relationship with [owner] Craig Rosendorff as a supplier and the timing was key for me, as I was looking to move into the retail space,” Levy told Jeweller.
“I was open to negotiating an outcome which ultimately kept the doors open – which is great for the staff, for the people of Perth and for me. It’s been just over one month now and things are going well. Business is steady and we’re very excited.”
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