Trump’s brand of luxury jewelry may not survive another year in office, according to a new report.
The Wall Street Journal reported Monday that Trump’s newly formed Trump-branded jewelry business could be forced to file for bankruptcy protection in the coming months if he fails to reach a deal with a potential buyer.
According to the Journal, the new company could go bankrupt by the end of 2018, though the exact date has not been determined.
As part of the deal, Trump would have to make $100 million in capital expenditures and provide the firm with the option to buy back the company’s shares, the Journal said.
While the company could face bankruptcy protection, the WSJ reported that Trump would not immediately surrender his ownership of the company.
“The deal is contingent on a plan by Mr. Trump to sell his shares to investors and make his share of the profits,” the Journal reported, adding that Trump is “waiting for investors’ interest.”
If Trump fails to complete the deal by then, the company will be forced into liquidation.
After months of speculation, Trump has made no announcement about the future of the Trump brand.
His daughter Ivanka Trump is set to unveil a new line of jewelry, but she has said she wants to keep the brand going.
Trump’s son Eric Trump has also said he’s not planning on continuing his jewelry business after his father leaves office.