News
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Aug- 2020 -4 August
Women’s Jewellery Network closes permanently
The Women’s Jewellery Network (WJN) has confirmed its immediate closure after founder Victoria McKay announced her decision to step down. It comes as McKay said she was unable to dedicate the time needed to run the network, with other board members unable to take over the role due to other…
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3 August
Chippenham jeweller launches jewellery kit
Tamara Eggleston, a Chippenham-based jeweller, has announced the launch of a home jewellery making kit in a bid to boost business after lockdown saw her workshop close. In addition, Eggleston has launched the initiative after many of the shops she sold through also had to close following the pandemic. Eggeleston,…
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3 August
Sotheby’s sales fall despite online boost
Sotheby’s has welcomed a year of “resilience”, despite year-to-date sales only reaching $2.5bn (£1.92bn), down from $3.3bn (£2.53bn) the year prior. In place of half-year results, the auction house released results from 1 January to 31 July in order to accommodate rescheduled spring sales. Despite the overall decline in sales,…
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3 August
Diamcor cuts costs as average prices rise
Diamcor has announced it will continue efforts to implement short-term operational changes and cost reduction efforts at its Krone-Endora at Venetia mine in South Africa. The mine project has been temporarily halted due to local lockdown measures, and in light of the closure, Diamcor will continue to reduce, defer, and…
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3 August
Loans boost announced for independent retailers
More coronavirus support loans are to be made available to independent retailers following a change to state aid rules. Changes to the rules mean that more small businesses can now benefit from loans of up to £5 million under the Coronavirus Business Interruption Loan Scheme (CBILS). Previously businesses which were…
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Jul- 2020 -31 July
Gem Diamonds sales rise in H1
Gem Diamonds has announced that it generated $29.4m (£22.3m) in its half-year results, after 16 diamonds sold for more than $1m (£760,000) each. This marked a rise against the 12 diamonds that sold for $26.6m (£20.2m) collectively in the first half of 2019. During the period, the average price of…
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31 July
William and Son enters administration
William and Son, a Mayfair-based jeweller, has fallen into administration. Damian Webb and Phillip Sykes of RSM Restructuring Advisory LLP were appointed joint administrators of the business on 10 July 2020, the jeweller has revealed. In a statement, the jewellers confirmed the “affairs, business and property of the company are…
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31 July
Theo Fennell unveils award winners
Theo Fennell has announced the two winners of its annual Central St Martins award show. The event marks the 12th year the jeweller has sponsored the BA design show, and presented the annual awards. Two students have now been awarded in two categories set by Theo Fennell, in Best Design…
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30 July
De Beers jobs at risk following poor sales
De Beers has announced that total revenue plummeted 54% to $1.2bn (£920m) in its half-year results, with rough diamond sales falling to $1bn (£767m), down from the $2.3bn (£1.76bn) reported the year prior. In light of the damaged performance, CEO Bruce Cleaver told Reuters that the group would “likely” proceed…
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30 July
New grants to be made available for small businesses
Grants totalling £20m are to be made available to small businesses, the government announced today (July 30). Thousands of smaller businesses in England are set to benefit from the new government funding to help them recover from the effects of the coronavirus pandemic. Small and medium sized businesses will have…
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