Jobs saved as jewellery chain bought

THE majority of shops belonging to the High Street jewellery chain Diamonds and Pearls will stay open after being bought out of administration.

Some 73 of the group’s shops will stay open, including branches in Manchester, Oldham, St Helens, Wigan, Sale, Macclesfield and Blackpool. The moves safeguards around 300 jobs, 40 of them in the region.

But 18 will close with the loss of 67 jobs. Included in the closures are shops in Accrington, Ashton-under-Lyne, Bury, Rochdale and Wallasey.

The business has been bought by Diamonds and Pearls 2009 headed by managing director Victoria Taylor. Diamonds and Pearls, which originally had its head office in Bedford, went into administration on March 2.

Administrator Myles Halley, from the firm KPMG, said: “A particular mention goes to the workforce who continued to work even though we as administrators could not afford to pay their February wages which were outstanding at the date of administration.  These wages will now be paid by the purchaser.”