(qlmbusinessnews.com via bbc.co.uk – – Wed, 9th July 2019) London, Uk – –
Luxury jewellery retailer Links of London has gone into administration, putting 350 jobs at risk.
The retailer, which has its headquarters in Mayfair, has appointed Deloitte as administrators to try to secure a rescue sale.
Links has 28 standalone stores and seven concessions in the UK and Ireland. They will remain open but the company's website has been suspended.
Deloitte said the firm had struggled during “difficult trading conditions”.
The British brand was founded in 1990 and sells luxury jewellery, watches, cufflinks and gifts.
It is owned by Greek company Folli Follie, which is also facing difficulties over a fraud related to overstating sales.
Deloitte said that “in light of ongoing cash flow pressures”, the firm's directors were left with “no choice” but to place it into administration.
Matt Smith, joint administrator for Links of London, said the move would be “difficult news for employees and their families”.
“We appreciate the support of management and we will continue to support employees through this time,” he said.