Covid-19 relief package saves family jewellers

Sinclairs, the family-run jewellers in Inverurie, has secured £125,000 from the Coronavirus Business Loan Scheme (CBLS) to support the firm as it navigates the financial impact of the pandemic. The business is headed by Ian and Debbie Sinclair, whose family has managed the jewellers for over 40 years. The financial…

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700,000 jobs at risk as end of furlough scheme draws near

Over 700,000 employees are at risk of being made redundant in the second half of 2020, research from Institute for Employment Studies (IES) has revealed. IES estimates that some 650 thousand redundancies are expected in the second half of 2020, with 445 thousand redundancies in the three months between July…

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Tag Heuer partners with Beaverbrooks for new Leicester boutique

Luxury watchmaker Tag Heuer has opened a new boutique in partnership with jeweller Beaverbrooks in Leicester’s Highcross shopping centre on Friday (11 September). Tag Heuer said it aims for the 30.67sqm store to welcome customers in the “spirit of the brand” and features a contemporary design and its “iconic” red…

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Insolvent companies cost taxpayers £250m 

Insolvent companies that were unable to pay their debts in the first six months of 2020 have cost British taxpayers almost £250m, according to Altus Group.  The software group found that the amount paid to former members of staff was up by £133.79m in the period against the prior year,…

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Edge of Ember: Forging a sustainable future

As we enter the age of the unknown following the peak of the Covid-19 pandemic, industries are finding themselves at a crossroads and looking for change. While consumers and creators begin to look beyond traditional norms, more and more brands have turned towards diamonds’ much younger cousin: the lab-grown variety. …

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De Beers takes ‘flexible’ approach to rough diamond sales 

De Beers Group today announced the value of rough diamond sales for the sixth and seventh sales cycles of 2020. The provisional sales of cycle seven totalled $320m (£249.7m), up from $287m (£224m) reported in the seventh cycle of 2019. In addition, rough diamond sales in cycle six totalled $116m…

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Lucy Quartermaine reports 70% sales increase in Q2

Lucy Quatermaine has reported a substantial increase in sales via their website during lockdown and this year’s second quarter.  The award-winning jewellery designer, based in Cheshire, saw a 70% increase in sales per month compared to the previous year. Quartermaine saw the largest sales increase of 77% in June, which…

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Businesses hit by local lockdowns to receive grants

Businesses in England that are required to shut due to local lockdowns will now be able to claim up to £1,500 per property every three weeks, the Government has announced. Chief secretary to the Treasury, Steve Barclay, announced the new funding plan yesterday (10 September) as part of ongoing efforts…

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LVMH plans counter lawsuit against Tiffany & Co

LVMH has announced it plans to file a counter lawsuit against Tiffany & Co after the collapse of a takeover deal. Tiffany & Co filed a lawsuit against the company after LVMH cancelled its proposed $16.2bn (£12.4bn) acquisition of the French luxury retailer earlier this week. The initial lawsuit was…

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125,500 retail jobs lost since start of 2020

Some 125,515 retail jobs have been lost since the start of 2020, according to the latest data from the Centre for Retail Research (CRR). Of this figure, 43,381 jobs were lost through administrations, 10,556 through CVAs and 71,578 through rationalisation schemes. The UK’s embattled high street has also seen the…

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