Tag Archives: administration

Theo Fennell rescued from administration by MBO

Theo Fennell rescued from administration by MBO

Theo Fennell has completed a management buy-out of his eponymous jewellery business after securing the backing of private equity investors. The jeweller has cut a deal with Enact, the SME investor managed by Leeds-based private equity outfit Endless, that will allow the business to continue trading. Theo Fennell had been in the middle of a

Theo Fennell enters administration after struggling to contain costs

The future of upmarket jeweller Theo Fennell has been plunged into uncertainty after it was forced to call in administrators yesterday. The company was in the middle of a restructuring programme but said the “burden” of certain fixed costs had hit the business hard and threatened its ability to trade. A number of staff have

Ortak plots bold relaunch after successful IP sale

Purchased by five partners with plans to return manufacture to Orkney. Scottish jewellery company Ortak is to make an unexpected comeback after Glasgow-based international property (IP) specialist, Metis Partners, sold the company’s assets to five buyers – ensuring valuable jobs are saved. Following the successful sale of Ortak’s IP assets, including trademarks, 10,000 unique designs,

Ortak to sell off assets including trademarks

IP specialists Metis Partners believe sale will incite industry bids. Scottish jewellery brand Ortak has appointed intellectual property specialists Metis Partners as it reveals plans to sell off a number of assets, including trademarks, a portfolio of jewellery designs and its e-commerce site. According to news reports, the Orkney-based jewellery company’s administrator BDO has instructed

Albemarle & Bond bought out by private equity firm

International investors led by Promethean take on 128 A&B branches. Pawnbroker Albemarle & Bond has been acquired by a group of international investors led by private equity firm Promethean Investments, saving 628 jobs across 128 stores. A joint statement from Promethean Investments LLP and the joint administrators of Albemarle & Bond at PricewaterhouseCoopers (PwC) said

Sale of Ortak business deemed unlikely

High levels of stock discounted; business discussions to continue. The sale of Ortak Jewellery Limited remains in doubt, according to a statement released today by the company’s joint administrator and restructuring partner James Stephen. Stephen of Glasgow-based firm BDO said: “Ortak Jewellery Limited entered administration back in March 2013, caused by the economic climate and

Pykes the Jewellers enters administration

135-year-old business seeks buyer for its North West stores. Family-run retailer Pykes the Jewellers has entered into administration, putting the business up for sale. The North West jeweller, established more than 135 years ago by William Pyke in Birkenhead, went into administration on January 3 2014. It is understood that the business has been impacted

BJA to aid review of pre-pack administrations

Review will assess the long term impact of pre-pack administrations. The British Jewellers’ Association (BJA) is set to contribute to a review of pre-pack administrations, following the launch of a campaign again this type of insolvency. The BJA originally highlighted its concerns with pre-pack administrations in an article posted by Professional Jeweller in November. The campaign

Alfred Terry Limited enters voluntary liquidation

CEO Steve Wright says business will return "leaner and more positive". Bridal and diamond jewellery brand Alfred Terry Limited has entered voluntary liquidation in a bid, according to the company, to relaunch as a leaner, fresher business. The company’s chief executive Steve Wright told Professional Jeweller that the decision to liquidate the Gitanjali-owned company was