Precious metals investors saw their holdings skyrocket in value in 2024 and 2025, which was great news for them, but bad news for some dealers, such as Rosland Capital LLC.Rosland Capital filed for a Chapter 11 liquidation facing distress from declining profitability compounded by an unsustainable order fulfillment model amid record precious metals prices.The distress was exacerbated by an increase in gold prices that rose from a low as $1,500 per ounce in 2023 to $4,300 per ounce by the end of 2025 and a peak of $5,620 an ounce in January 2026, according to Bondoro. Silver peaked at about $121 per ounce.
Rosaland Capital filed for Chapter 11 protection to wind down its business and liquidate its assets.kaitlingruss / Getty Images
Rosland Capital to liquidate assetsThe global precious metals asset management firm filed for Chapter 11 bankruptcy with plans to wind down its business and liquidate its assets.The Los Angeles-based gold and silver dealer filed its petition in the U.S. Bankruptcy Court for the Central District of California listing up to $1 million to $10 million in assets and $50 million to $100 million in liabilities on July 2, including about $23.6 million in unsecured debt, according to court documents.Rosland’s revenue declined from about $151 million in 2021 to about $97.8 million in 2025.Creditors’ names redacted from petitionRosland Capital’s only creditor listed on the petition was Fox News Network LLC, owed over $1.9 million. The names of the other 19 unsecured creditors in the petition, owed over $21.6 million, were redacted, according to court papers.The debtor, founded in 2008, sold gold, silver, and palladium bullion bars and coins, as well as platinum bullion bars. The company also advised clients on gold, silver, and palladium coin purchases for their precious metal IRAs.In addition to its Los Angeles office, Rosland opened offices in London in 2014, and Munich and Paris in 2021.All employees terminatedRosland Capital no longer holds any inventory of precious metals, coins, or bullion and retains only limited cash in its accounts. The company had terminated substantially all of its employees by June 19.The debtor will file a bidding procedures motion for an auction of its assets and expects to file a plan calling for a liquidating trust to manage the liquidation of the company.Gold was priced at about $4,175 per ounce, and silver was about $62 an ounce on July 3, 2026, according to Forbes.Joni Teves, a UBS metals strategist based in Singapore, said her firm believes gold will finish the year strongly, The Street’sCharley Blaine reported.Bank predicts continued gold increaseIn a May 12 call with journalists in Asia, Teves said the Swiss banking giant, remains a bull on gold, The Star reported.“We still think that prices can recover from current levels and continue to make new highs this year,” she said.The rise in prices prompted a surge in orders that the dealer could not timely fulfill, causing a months-long gap between the customer’s prepaid order and the debtor’s purchase from third party suppliers.Rising prices often caused the dealer’s replacement cost to exceed the amount the customer paid. The dealer also lost money on paying commissions of 15% to 35% of gross profit to sales representatives even when orders were later cancelled or went unfulfilled.A backlog prevented the debtor from timely delivering product or honoring repurchase obligations, which led to a $49 million deferred revenue balance and a $11.8 million buy back list.A liquidating Chapter 11 bankruptcy was the debtor’s best option to maximizing its value to pay off its creditors, Rosland Capital’s Chief Restructuring Officer Michael Hogan of Armanino Advisory LLC determined.Why Rosland Capital failed:Price of gold rises from $1,500 in 2023 to a high of $5,620 in January 2026.Rosland unable to promptly fulfill orders.Rising gold prices often pushed thedealer’s replacement cost above the prices customer already paid.Dealer loses money on paying commissions on orders that were later canceled or went unfulfilled.Revenue declines from $151.2 million in 2021 to $97.8 million in 2025.Net losses exceed $24 million 2022 through 2025. Source: BondoroRelated: Iconic breakfast dining chain closes over 150 locations