National jewellery retailer F. Hinds has saved most of Chapelle’s specialist outlet stores from administration.
The award-winning, family-run firm, which runs 116 boutiques across England and Wales, has reached an agreement to take on 12 Chapelle stores in top outlet centres.
Hinds managing director, David Hinds shares: “We are delighted to be able to take on many of the Chapelle outlet stores as well as their website. We are also very pleased to be saving over 80 jobs. We believe that Chapelle complements our existing F Hinds business and that we will be able to share our experience and to offer increased operational efficiency. We welcome the Chapelle staff and customers to our family and believe that a similar company culture will help us to build a new and better business together.”
“We believe our purchase will provide an opportunity for existing Chapelle and F Hinds suppliers as well as offering new brands an efficient route to clear end of range product in an ideal environment,” adds Hinds.
The company was founded by husband and wife team Paul and Margaret Mortimer in 1979 as a retail business selling jewellery and watches at discounts of at least 30% against RRP.
In April 2015, it was sold to the restructuring and investment firm Hilco UK – the owner of the entertainment retailer HMV, which has also recently collapsed.
Until recently the business, headquartered in Nottingham, operated 24 stores but closed three of them down. Today it operates 21 outlet centres and three concessions across the UK as well as a growing e-commerce business.
Brands being sold by the retailer include Hot Diamonds, Fiorelli, Fred Bennett, Dimonfire, Guess and Michael Kors.
While F. hinds has saved 12 stores, no news has been released yet on the remaining outlets.