Jewelry Maker Links Of London's Administration Leads to 38 Job Losses

UK-based jeweler Links of London’s fall into administration has led to loss of 38 jobs at its head office in London, administrator Deloitte said on Friday, adding that there have been no job losses in any stores, Reuters reported. The luxury jewelry retailer, owned by Greek Folli Follie, has around 28 standalone stores across the UK and Ireland along with seven kiosks and employed 350 people when it appointed administrators earlier this month. “Whilst we continue to talk to interested parties about a sale of the business, the ongoing cash-flow pressures mean the current cost base is not sustainable,” joint administrator Matt Smith said. Smith had earlier said that the directors had been seeking alternative solutions, including a company voluntary arrangement (CVA), refinancing or sale, but were unable to ink such a deal. Read more