Links jewellery chain in administration
10 Oct 2019
Upscale high street jewellery chain Links (London) Ltd has collapsed, putting around 350 jobs at risk
10 Oct 2019
Matt Smith and Dan Smith, restructuring partners at Deloitte, have been appointed as joint administrators, following months of uncertainty about the future of the company.
Links is a British brand owned by the Greek Folli Follie group, with headquarters in London, selling luxury British jewellery, watches, cufflinks and gifts. It has been present on British high streets for almost 30 years.
At the time of the administration, Links had 28 standalone stores across the UK and Ireland, and seven concessions, and employed around 350 staff in total.
Other international operations trading under the Links of London brand are not directly affected by this appointment. No redundancies are being announced at this stage.
Matt Smith, Deloitte partner and joint administrator, said: ‘The company has had to contend with difficult trading conditions that have impacted the whole retail sector.
‘The directors have been seeking alternative solutions, including consideration of a CVA, refinancing or sale, but have unfortunately been unable to conclude such a transaction. In light of ongoing cashflow pressures, this has left the directors with no choice but to place the business into administration.
‘We intend to continue to trade the business and will be exploring any options for a sale. If this cannot be achieved, then we will seek to realise stock and other assets over a period of trading for the benefit of the company’s creditors.’