// Links of London on the brink of collapse
// Jewellery retailer called in advisers from Deloitte to explore options
// 500 jobs at risk, across 350 stores and concessions
Links of London has reportedly called in advisers to review its options as it edges towards collapse, which would place 500 jobs at risk.
According to The Sunday Times, the jewellery retailer has turned to advisers from Deloitte and is considering launching a CVA to reduce rents and close stores.
Should it eventuate, staff across Links of London’s 350 stores and concessions would be at risk of being made redundant.
Its most recent accounts from 2017 show a pre-tax loss of £20.6 million amid sales of £42.9 million.
Links of London is owned by scandal-hit Greek retailer Folli Follie, which was recently slugged with a €20.3 million fine for allegedly misrepresenting sales in 2016 and has suspended its shares on the Athens Stock Exchange.
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2 Comments. Leave new
20m loss on 40m sales is impressive
It’s totally shambolic on an intergalactic scale