Tough times and robberies force shop to shut after 10 years.
By Kathryn Lewis
Peter Hopper and his partner Debbie Daly have been running Harvey Daly Jewellers in Peterborough for the past decade, but when their lease expires later this month they plan to shut down the store for good.
Harvey Daly Jewellers is one of roughly 15 jewellers operating in Peterborough. Tough economic times, the rising price of gold and diamonds, and two robberies within the span of a year have forced Hopper and Daly to reconsider whether the business is viable any longer.
“It all started with the armed robbery last year,” Hopper told Professional Jeweller. “And then the price of gold and diamonds have gone through the roof.”
Hopper added that people continue to come in to the store but actual sales have plummeted. He said: “We’ve got a lot of customers coming in but with the price of gold and diamonds having gone sky high people just can’t afford it.”
He attributes part of the problem to an increase in personal sales of gold last year. “Well it all started in change in May or June of last year when people started selling their gold but can’t afford to replace what they’ve sold," he said. "So it’s been a continuation from that.”
A string of robberies did not help matters – an armed robbery last year resulted in losses of £46,000 worth of gold chains. The store was targeted again last month when burglars stole a diamond ring and a Rolex watch worth roughly £4,500. Hopper and Daly plan to continue their business online. For now until the end of the month everything in Harvey Daly’s is half price.