Fri, 20 Feb 2026 | BUSINESS SALE
The Hastings facility of a prominent commercial jewellery manufacturer has been acquired out of administration in a deal that secures more than 40 jobs. Andra Jewels fell into administration earlier this month amid a range of financial issues.
Founded in 1959, the company specialised in manufacturing a wide array of jewellery and had a customer base spanning high street chains, numerous online direct-to-customer trading websites and several high-profile repeat business clients.
However, the company had encountered mounting issues during 2025, which included arrears owed to HMRC, a drop in turnover, volatile gold and silver prices - which suppressed margins, and changes to its credit terms with major suppliers.
As a result, the company contacted Moorfields Advisory for professional turnaround advice. However, it became clear that, even with the business undertaking cost-cutting measures and increasing revenue lines, it would be unable to service its creditor arrears and loan repayments in the coming period.
While Moorfields was also engaged to run an accelerated marketing process for the business, Andrew Jewels Limited was ultimately placed into administration on February 12 2026, with Andrew Pear and Milan Vuceljic of Moorfields appointed as joint administrators.
Shortly after their appointment, the joint administrators secured a sale of the company’s site in Hastings, with 41 employees transferring to the buyer. However, no buyer could be found for the firm’s loss-making Birmingham site, resulting in 11 redundancies.
In a statement, the joint administrators said: "Whilst it is always unfortunate when a business with such a longstanding trading history encounters difficulties, insolvency was difficult to avoid due to the financial issues the company has encountered, and the volatility in precious metal prices. We are pleased this sale has managed to secure future employment for the majority of the employees."
In accounts for the year to December 31 2024, Andra Jewels Limited’s fixed assets were valued at around £990,000 and current assets at £3.4 million, with net assets amounting to approximately £3.6 million.
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