Jewelry Retailer’s Future Uncertain as Losses Mount and US Exit Occurs

  • FF Group appoints Deloitte and Savigny Partners for potential sale of Links of London
  • Links of London owner Folli-Follie Group confirms appointment of advisors
  • Pre-tax loss of £20.6m reported for the year ending December 2017
  • Brand exits US market, closes 15 stores in April as part of turnaround plan

Links of London owner Folli-Follie Group (FF Group) has confirmed the appointment of Deloitte and Savigny Partners for the potential sale of the retailer, following reports from Sky News that a pre-pack administration or post-transaction restructuring was almost inevitable. The company’s statement only confirms the appointment of advisors at this stage, with Links of London still in the process of a turnaround plan it continues to support. The jeweler reported a £20.6 million pre-tax loss for the year ending December 2017 and exited the US market by closing its 15 stores in April as part of the turnaround effort to avoid insolvency.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the appointment of Deloitte and Savigny for the potential sale of Links of London owner FF Group, mentions the pre-tax loss for the year ending December 2017, and explains the brand’s decision to pull out of the US market. It is based on a statement from the company and a previous report by Sky News. However, it lacks some details about the current situation and future plans.
Noise Level: 3
Noise Justification: The article provides relevant information about the potential sale of Links of London and its financial situation but lacks in-depth analysis or actionable insights. It mainly reports on recent events without exploring long-term trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: The potential sale of Links of London retailer may impact the financial markets and companies in the jewelry industry.
Financial Rating Justification: The article discusses the possible sale of a retailer, which can affect the financial performance of the company and potentially impact the jewelry industry’s market.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article. The company is facing financial difficulties, but it does not meet the criteria for a financial crisis or major accident.

Reported publicly: www.retailsector.co.uk