Links of London on ‘verge of collapse’

British jewellery brand Links of London is on the verge of collapse, according to reports.

The Times said the jeweller, which has around 350 stores, is now working with Deloitte, and has looked into a company voluntary arrangement (CVA) to cut rents and close stores, putting 500 jobs at risk.

Links of London, which is owned by Greek global jewellery, watch and accessory brand Follie Follie, reported pre-tax loss of £20.6m for the year ending December 2017.

Follie Follie was fined earlier this month (March) after the discovery of an alleged $1bn (£750m) fraud involving overstated sales in its home country.

Links of London was founded in 1990, and was acquired by Folli Follie in July 2006.

Jewellery Focus has contacted Deloitte for comment.