Watch this space: UK jewellery chains put up for sale
The owner of some of the UK’s best-known jewellery chains has put them up for sale.
Aurum Holdings, which is owned by US-based investment firm Apollo Global Management, has reportedly begun interviewing banks as it seeks to sell Goldsmiths, Mappin & Webb and Watches of Switzerland.
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Sky News reports that Aurum is pushing ahead with the sales after the UK’s Brexit vote and subsequent fall in the value of sterling prompted a surge in luxury watch sales.
Aurum has reportedly seen sales in this area increase by 40 per cent since June, with overseas shoppers making the most of the cheaper pound.
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Bankers are expected to be appointed to handle the sale within weeks.
Aurum has been asked for comment.