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Azendi appoints administrators

Azendi, the Leeds based 19-store jewellery chain, has appointed administrators.

CITY & CORPORATE

Azendi appoints administrators

The company employs 100 people.

Joint administrators Adrian Berry and Daniel Butters from Deloitte have confirmed that they intend to keep the stores trading while they seek a buyer for all or parts of the business.

Berry said: "Azendi Ltd has faced a downturn in trading as a result of the current difficult economic trading conditions.

"We are hopeful that suppliers will remain supportive whilst we continue to trade, the business providing us with the best possible platform from which to preserve jobs, and value for all creditors through the process."

Irwin Mitchell restructuring partner for law firm Andrew Walker which is advising Deloitte added: "Azendi has built up a strong brand since it was established but like many retailers, it has struggled as consumers have cut back their spending on some non-necessity, luxury items.

"We appreciate that this is a difficult time for the business and its employees, but we will continue to work with the administrators as they explore the various options for the business and ultimately seek a buyer."


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