High street jeweller with Norwich outlet collapses into administration
PUBLISHED: 20:16 11 October 2019 | UPDATED: 08:47 14 October 2019
A jewellery chain with an outlet in Norwich has collapsed into administration.
Links of London has gone bust, putting 350 jobs at risk.
The high street jewellery brand had an outlet in Norwich department store Jarrold.
According to Deloitte, a 'difficult trading' environment is to blame, which has led to the collapse of other high street stores.
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The administrators said that "in light of ongoing cash flow pressures", the firm's directors were left with "no choice" but to place it into administration.
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Deloitte said the business intends to continue to trade while it seeks out sale options, but said it could sell stock and assets over a period of trading "for the benefit of the company's creditors".
Matt Smith, joint administrator for Links of London, said: "The company is well-known in its market, having been present on British high streets for almost 30 years.
"This is not the outcome we hoped for and will of course be difficult news for employees and their families.
"We appreciate the support of management and we will continue to support employees through this time."