New owner for troubled jeweller HPJ

A NORTH West jewellery chain has been sold in a pre-pack administration, with the new owner safeguarding more than half of the company’s 502 staff.

Congleton-based HPJ Retailing and wholesaler Family Jewels, which had 78 shops nationwide, trading as HPJ Jewellers and Jewel Nation, have been acquired by Gordon Brothers, the advisory and restructuring firm.

Gordon Brothers has bought 52 out of 78 shops, employing 329 people. The remaining sites have been closed with the loss of 170 jobs.

Accountants KPMG said HPJ Retailing and Family Jewels had both been loss making for some time due to tough competition, and its trading woes had been compounded by the bad weather over Christmas.

Paul Flint, joint administrator and an associate partner at KPMG Restructuring said: “In this challenging climate we are pleased to have agreed a sale of this long established retailer which secures the jobs of the majority of the workforce and enables the business to continue trading from a number of high streets and shopping centres across the UK.”

Gordon Brothers, who acquired the business in December, have created two newly- formed companies; Gemstone Retail and Gemstone Operations, for the new business.

Among the stores safeguarded in the process are those at: Birkenhead, Bootle, Liverpool, St Helens and Bolton. Stores in Oldham and Manchester are among those to have been closed.