Abbeycrest hires new FD as Simon Lazenby exits

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Mark Birchall joins jewellery group from own accounting consultancy.

Abbeycrest has hired accounts expert Mark Birchall as its new financial director.

Birchall joins the jewellery company that owns wedding band specialist Brown & Newirth from his own consultancy firm, which he founded in 2009. Prior to this he spent 10 years as the financial director at Global Invacom, a satellite equipment manufacturer.

Simon Lazenby, who joined Abbeycrest as group finance director in September 2010, will step down from the board as Birchall arrives.

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Abbeycrest executive chairman Simon Ashton said: "I would like to thank Simon Lazenby for his valuable contribution to the company and welcome Mark to the board."

Birchall joins the jewellery company at a difficult time in its financial history as the group prepares to make some tough decisions in January. At the end of November the group warned that despite reducing working capital requirement by £200,000 that month it felt that it might need to do so again in January, or extend its banking facility.

Abbeycrest shares hit a 52-week low on November 10 dipping to 38p but have since buoyed back up to 175p. The market capital of the company on the London Stock Exchange is currently valued at £1.29 million.

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