19 UK jewellery stores to remain open while buyer is sought.
Independent high street jeweller Azendi, which operates 19 stores across the UK, has filed for administration.
Adrian Berry and Daniel Butters, partners at Deloitte, have been appointed joint administrators to Azendi Limited. Azendi presently employs about 100 staff with headquarters in Leeds.
Berry and Butters intend to keep all stores trading while they seek a buyer for the business which has stores in locations including York, Bath, Harrogate, Aberdeen and the King’s Road in London.
Berry said: “Azendi Limited has faced a downturn in trading as a result of the current difficult economic trading conditions. We will continue to trade the business whilst we seek a buyer.
“We are hopeful that suppliers will remain supportive whilst we continue to trade, the business providing us with the best possible platform from which to preserve jobs, and value for all creditors through the process.”
Azendi’s main focus has been the production and retail of its own silver and gemstone jewellery, though the company began to sell branded jewellery by designers including Stephen Webster, Shaun Leane and Jayce Wong about two years ago.
The retailer also runs an e-tail website at Azendi.com, which founder Ian Jones claimed was attracting high traffic in the run-up to Christmas. In November he Tweeted: "Upgraded azendi.com server today to cope with huge Xmas traffic. It’s blisteringly fast now."
Andrew Walker from the Leeds office of Irwin Mitchell LLP has been appointed to advise the joint administrators.