Deloitte Involvement and Potential Store Closures Threaten 500 Jobs

  • Links of London on the verge of collapse
  • Working with Deloitte to explore CVA options
  • 500 jobs at risk due to potential store closures
  • Pre-tax loss of £20.6m in 2017
  • Follie Follie fined for $1bn fraud earlier this month

British jewellery brand Links of London is reportedly on the verge of collapse, with the company working alongside Deloitte to explore a company voluntary arrangement (CVA) that could lead to store closures and put 500 jobs at risk. This comes after Follie Follie, the Greek global jewellery, watch, and accessory brand owner of Links of London since 2006, reported a pre-tax loss of £20.6m in 2017. Follie Follie was fined earlier this month for an alleged $1bn fraud involving overstated sales in its home country.

Factuality Level: 8
Factuality Justification: The article provides accurate information about the financial situation of Links of London, its ownership, and the involvement of Deloitte in helping with a potential CVA. It also mentions the pre-tax loss for the company and the fraud case involving Follie Follie. However, it lacks some details on the specific stores that may be closed and the exact number of jobs at risk.
Noise Level: 3
Noise Justification: The article provides relevant information about the potential collapse of Links of London and its financial situation, but it lacks analysis or exploration of long-term trends or consequences. It also does not offer actionable insights or new knowledge for readers.
Financial Relevance: Yes
Financial Markets Impacted: The potential collapse of Links of London may impact the retail and jewelry sectors, as well as Follie Follie’s stock price.
Financial Rating Justification: This article discusses a possible company collapse and its financial losses, which pertains to financial topics. Additionally, it mentions the potential impact on related industries and the company’s owner, Follie Follie.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk