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Links of London facing collapse

By Don-Alvin Adegeest

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Retail

British jewellery chain Links of London has reportedly called in advisers from Deloitte as the company faces collapse.

According to The Sunday Times, the struggling retailer is considering launching a CVA to reduce rents and close stores. A collapse could put as many as 500 jobs at risk.

The company currently operates 350 stores and concessions and staff would face possible redundancies.

According to the Retail Gazette Links of London filed its latest accounts for the year 2017, which showed a pre-tax loss of 20.6 million pounds against stales of 42.9 million pounds.

Links of London parent company is the Greek jewellery retailer Folli Follie. The company last year suffered an accounting scandal for allegedly overstating the number of its outlets and was questioned for its accounting practices in Asia where it had expanded rapidly.

Photo credit: Links of London, source own website

Links of London