BUSINESS

Jobs lost at the British subsidiary of Folli Follie

TAGS: Business

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.

The luxury jewelry retailer, owned by Greek Folli Follie, has around 28 stand-alone stores across the United Kingdom and Ireland, along with seven kiosks, and employed 350 people when it appointed administrators earlier this month.

Links of London was founded in 1990, offering unisex jewelry and lifestyle accessories, with luxury products designed after London’s art, music, and film scenes at the time.

It appointed administrators earlier this month and said on its website it was unable to process any online sales, but directed people to its stores.

The jeweler’s Greek owners have also faced their share of troubles.

Folli Follie in August mandated Deloitte and Savigny Partners to look into the possible sale of Links of London, which it bought in 2006.

[Reuters]

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