A bespoke jewelery chain has closed its high street stores and had to make all staff redundant after falling into liquidation. The Ringmaker, which has two sites in Glasgow and Edinburgh, has appointed liquidators to wind up Holkar Ltd and Ninety Four Ltd, which is the parent company.
Rumors had been bubbling for weeks that the chain was in trouble, after suppliers and customers reportedly struggled to reach anyone at the firm. A source told The Glasgow Times: “Rumours had circulated for a while that the business was in trouble. I'd heard suppliers say that when they tried to get in touch, no calls were being returned and no emails were being answered. It was just mounting bills by the looks of it.”
They added: “The jewelery business in Glasgow is so competitive, customers just don't have the money to spend like they did in previous years. It's really sad to see such a respected firm go bust like this.”
The firm had been making bespoke jewelery since 1985 and dubbed itself “leading engagement and wedding ring designers”.
Blair Milne, joint provisional liquidator at Azets, confirmed that all nine staff had been let go.
He said: “The two companies employed a total of nine people, all of whom have regrettably had to be made redundant, and this process was instigated prior to our appointment,” reports Birmingham Live.
“We will help employees with their entitlement claims to the Redundancy Payments Service and shall safeguard the assets of the companies while we arrange their sale in an effort to provide a return to the company's creditors.
“We have returned the majority of jewelery belonging to customers of both businesses and encourage anyone who has any queries relating to this case to contact the provisional liquidators via the Azets website.”
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