Gemstone Retail Limited (07485772): administration
- Status
- Administration ended
- Administration began
- 2011-12-08
- Administrators' firm
- Moorfields
- Incorporated
- 2011-01-07
- Location
- London
Why it went into administration
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
The Company was incorporated on 7 January 2011 and trades from its head office in Woodside Park, Chelford Road, Congleton, CW12 2LY The business and assets of Half Price Jewellers Limited and Family Jewels Limited were purchased by the Company in February 2011
The Company’s primary business is the retail of discounted Jewellery to UK customers trading under the “Half Price Jewellers”, “HPJ Jewellers” and “Jewel Nation” brands
Retail trading condittons have remained extremley difficult throughout 2011 and despite store closures, signficant operational improvements and cost cutting exercises, turnover was below forecast, resulting in the Company trading at a signficant loss
Administrators' statement of proposals (2012-01-09) · Companies House register