Links of London’s administrators, Deloitte, have called in property advisors to help dispose of the firm’s retail stores in the UK & Ireland.
According to Property Week, Deloitte have drafted in GCW for the job.
As Property Week understands it, GCW will be in charge of the disposal of Links of London’s portfolio of 28 leasehold stores and four Folli Follie shops in the UK and Ireland.
The British jewellery brand, which went into administration earlier this month, has already let go of 38 members of staff at its London head office and has slashed the prices of products at all of its stores in an ‘everything must go sale’.
Matt Smith, joint administrator for Links of London, has said of the company’s collapse: “The company has had to contend with difficult trading conditions that have impacted the whole retail sector. The directors have been seeking alternative solutions, including consideration of a CVA, refinancing or sale, but have unfortunately been unable to conclude such a transaction.”
“In light of ongoing cash flow pressures, this has left the directors with no choice but to place the business into administration.”