Aurum Jewellery Group is put up for sale
Aurum Holdings which owns jewellers Mappin & Webb, Goldsmiths and Watches of Switzerland, has been put up for sale according to a report from the news agency, Reuters.
The sale is being handled by Cavendish Corporate Finance and comes after the group achieved record annual sales of £326 million in the year to 30 January 2011. Like-for-like sales were up 16.6% and underlying earnings increased by 53% to £16.1 million.
The group is controlled by the committee responsible for winding up the failed Icelandic bank Landsbanki. The bank was a major lender to the group’s former owner, Icelandic private equity company Bauger, before the firm went into administration in 2009. Aurum claims to be the largest prestige and luxury jewellers in the UK and the biggest distributor in the world of luxury brands such as Omega, Tag Heuer and Gucci.
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