British jewelry brand Links of London has named Deloitte as administrator, Reuters reported.
“The Company has had to contend with difficult trading conditions that have impacted the whole retail sector,” joint administrator Matt Smith was quoted saying in a statement.
Deloitte has not announced job cuts, but 350 positions could be at risk, according to Reuters.
The administrator plans to continue operating Links of London, which belongs to Greek jewelry firm Folli Follie, and look at the possibility of selling the company.
Links of London sells through outlets in Europe, the U.S., Asia and online. Among its products are jewelry, watches and cufflinks.
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Currently on its website, Links of London states: “Following the appointment of the Joint Administrators, the Company’s website has unfortunately been temporarily suspended until further notice and therefore is unable to process any online sales.”
The site advises visitors to go to their local Links of London store.
Read more at Reuters
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