Friday, 29 Mar 2024

Links of London goes into administration – placing 350 jobs at risk

British jewellery brand Links of London has crashed into administration in another blow for the high street.

The chain, founded in 1990 by John Ayton and Annoushka Ducas, collapsed on Wednesday, placing at least 350 jobs on the line.

The retailer has appointed Deloitte as administrators in an attempt to secure a rescue sale, while the business continues to trade.

Its website, however, has been temporarily suspended, stating it is now "unable to process any online sales".

Links of London, which has around 28 stores and seven concessions in the UK and Ireland, is owned by troubled Greek company Folli Follie, which was plunged into crisis over a fraud related to overstating sales.

Matt Smith, joint administrator for Links of London, 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."

Links of London has retail outlets in the United Kingdom, the United States, Canada, Japan and Hong Kong.

Today, it's owned by fashion brand Folli Follie SA – and has 337 stores around the world.

Is your local Links of London affected?

Here's a full list of branches in the UK that are now at risk.

  • Links of London – Cheshire Oaks, 152 Cheshire Oaks, Kinsey Road, Ellesmere Port, South Wirral
  • Links of London – Leeds, 5-7 Queen Victoria Street, Victoria Quarter, Leeds
  • Links of London – Birmingham, 749 Upper Level East Mall, Bullring Shopping Centre, Birmingham
  • Links of London – York, 60 Stonegate, Yorkshire
  • Links of London – Bicester Village, Unit 5, 50 Pingle Drive, Bicester Village, Oxford
  • Links of London – Cardiff, Unit LG 63 , The Hayes, St David's Shopping Centre, Cardiff
  • Links of London – Swindon, U110, Swindon Designer Outlet, Swindon
  • Links of London – Dublin, 25-26 South Anne Street Leinster
  • Links of London – 17 Rose Crescent, Cambridge
  • Links of London – Windsor, 46 Windsor Royal Shopping, Berkshire
  • Links of London – Kildare, Space 9B Nurney Road Kildare Town
  • Links of London – Canary Wharf, Jubilee Place Shopping Center, 45 Bank Street,
  • Links of London – Richmond, Richmond, Surrey
  • Links of London – St Pancras, Unit 47A St Pancras Station, Euston Road, Kings Cross
  • Links of London – Oxford St, 491 Oxford St, London
  • Links of London – Covent Garden, Unit 5A, The Market, Covent Garden
  • Links of London – Kings Road, 9 Kings Road, London
  • Links of London – Kingston, 24 Market Place, Kingston-Upon-Thames
  • Links of London – One New Change, 35 Lower New Change Passage, Greater London
  • Links of London – Broadgate Circle, 27 Broadgate Circle, London
  • Links of London – 6 Royal Exchange, London
  • Links of London – 24 Lime Street, City of London, Greater London
  • Links of London – Guildford, 83 High Street, Guildford, Surrey
  • Links of London – Edinburgh, 3 Multrees Walk, Edinburgh, Scotland
  • Links of London – Glasgow, 16 Princes Square, Scotland
  • Links of London – Gunwharf Quays, Unit 35/37 , Gunwharf Quays, Portsmouth
  • Links of London – Ashford, Unit 83, Ashford Designer Outlet, Kimberley Way, Kent
  • House of Fraser Victoria,  101 Victoria Street, London

Have you been affected by this? Get in touch: [email protected].

Source: Read Full Article

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