Family-run retailer Ce’ The Jeweller has announced plans to "wind down" the business in the coming months, following a period of increasingly difficult trading.
In an official statement released to Professional Jeweller, the CMJ retailer member said it has traded successfully since its incorporation in 2001 but owing to "the economic climate and the decline of the high street over the last few years" trading has become increasingly difficult.
The directors of Ce’ The Jeweller Janice and Robert Drewett have said they wish to wind down the company in an informal yet orderly manner and have appointed Price Bailey Insolvency and Recovery LLP to ensure that its financial affairs are concluded appropriately.
The business will launch a closing down sale on November 4 that it hopes, over the next few months, should generate sufficient funds to allow all creditors to be paid in full, albeit on potentially longer payment terms than have already been agreed with the company.
The Drewetts said they are confident that allowing the company time to wind down its affairs in an informal manner will result in the best outcome for creditors.
The retailer sells its own jewellery collections and watches from brands including Bulova, Ice-Watch and TW Steel.
In the statement Janice and Robert Drewett added that they "would like to thank all of their jewellery friends, suppliers and the Company of Master Jewellers for their ongoing support. All have been an important part of Ce’ The Jeweller over the years".
Robert Drewett also said that he is not yet planning to retire and will instead be taking things in a different but much slower direction.