Jewellery retailer enters administration

Tue, 22 Jan 2019 | ADMINISTRATION



A Nottingham-based jewellery and watches company has fallen into administration.

Chapelle Jewellery & Watches, which has humble beginnings as a family-run business established almost 40 years ago, was forced to call in professional services company Duff & Phelps Ltd to handle the administration process, with partners Philip Duffy and Sarah Bell appointed as joint administrators.

Director of Duff & Phelps, Jim Saunders, commented on the administration stating that: “Whilst the current management team has spent the last two years working hard to enhance the store estate, brand proposition and driving significant operational efficiencies, economic uncertainty continues to weigh heavily on consume confidence.

“In addition, retailers face rising business rates, national minimum wage increases and a paradigm shift in the retail landscape.

“This has impacted most retailers and as a result of trading losses, Chapelle could no longer meet its ongoing liabilities.”

The administrators were appointed for both Mortimer Management Group Limited and The Jewellery Outlet Limited, which together trade under the Chapelle name. In 2015, the company was sold to investment firm Hilco UK, which until recently owned HMV which also entered administration late last year.

The company ran 24 stores across the country but was forced to shut three down due to the currently “extremely challenging” climate in the retail sector. Despite the negative landscape, the company has reported a turnover of more than £24 million and will continue to trade until a buyer is sought.

Chapelle’s founders, Paul and Margaret Mortimer, commented on the situation, saying: “Chapelle was the leader in its field when we sold it in 2015. It could certainly still be profitable and successful again and we sincerely hope that a retail focused buyer can be found.”

Click here to view The Jewellery Outlet Limited listing for full details.

For more news stories about administrations click here. For all our administrations listings, click here.


Share this article



Latest Businesses for Sale

Commercial Vehicle Dealership
Wales, UK

Specialises in the sale of new commercial vehicles, along with offering a comprehensive range of associated vehicle servicing and maintenance solutions. Offers invited.

Asking Price: Offers Invited
Turnover: £15,100,000

FREEHOLD


Gym Equipment Supplier
UK Wide

Specialises in the provision of complete gym design solutions, ranging from the supply, installation, maintenance and servicing of premium and high-performance gym equipment. Offers invited.

Asking Price: Offers Invited
Turnover: £3,500,000

LEASEHOLD


Authentic Indian Foods Online Retailer
Bournemouth, Dorset, South West, UK

Busy on-line retailer that specialises in the sale of Authentic Indian Food, Indian Spices, Indian Sweets, Indian Cookware, Cooking Ingredients, and Recipes. Offers invited.

Asking Price: £289,999
Turnover: £800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
19
 
Apr
 

Accountancy firm to expand in Scotland | BUSINESS SALE

A UK-based accountancy firm with offices peppered across the...

 
18
 
Apr
 

Recruitment firm acquires counterpart | BUSINESS SALE

Swindon-headquartered recruitment company Outsource UK has s...

 
17
 
Apr
 

Financial planning firm acquired by global counterpart | BUSINESS SALE

An independent financial advisory from Newcastle has been sn...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources