Level 2

Links of London goes into administration

By Michele Maatouk

Date: Wednesday 09 Oct 2019

(Sharecast News) - Jewellery chain Links of London has gone into administration, putting 350 jobs at risk.
The retailer, which trades from 28 standalone stores and seven concessions in the UK and Ireland, has appointed Deloitte as administrators.

Joint administrator Matt Smith said: "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."

Deloitte had been looking for a buyer before being put into administration, with Sports Direct owner Mike Ashley and Homebase owner Hilco Capital said to have been interested.

The company's Greek owner, Folli Follie, confirmed in August that it had appointed advisory firms Deloitte and Savigny Partners to explore potential sale options for the retailer.

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