Three independent Nottingham jewellery retailers have closed in recent weeks, partly due to retail pressures.
Stuart Thexton Jewellery, R.O.K Jewellery and Hallam Jewellery have all departed the city centre, Professional Jeweller learned during a visit to meet Nottingham jewellers last week.
R.O.K Jewellery, which holds other stores in the area, predominately offered fashion lines and decided to shut its city centre site.
Stuart Thexton shut his jewellery business in the Exchange Arcade after 10 years in the area. Thexton has now opened another store, Emilia Ryan Jewellery, in West Bridgford, which offers consumers lower price items. Originally Emilia Ryan Jewellery was meant to complement Thexton’s original Stuart Thexton Jewellery store, but the retailer decided to focus solely on the new venture following a struggle to bring in customers.
He attributes a drop in footfall to a lack of promotion for the centre.
Thexton commented on the challenges in his local newspaper The Nottingham Post. He said “I was under pressure, there was a lack of turnover and it got to the point where the business was that bad it became unsustainable. I had a fantastic and loyal customer base but over the past few years we were getting less and less new business, and regulars can only spend so much.”
Elsewhere in Nottingham Hallam Jewellery now trades online only after departing from its bricks and mortar site, but in addition to retail pressures, personal reasons were involved in its closure.
Despite a high amount of footfall in the city, jewellers in Nottingham are not immune to the pressures faced by retailers around the country. Business rate revaluations, the introduction of the national living wage and apprenticeship levee and the post-Brexit slump in the pound are all contributing to a challenging climate.