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Jewellery jobs hang in the balance

By: KentOnline reporter multimediadesk@thekmgroup.co.uk

Published: 13:05, 03 March 2009

Diamonds and Pearls has 91 UK stores, including several in Kent.

Jobs are at risk across Kent and Medway after a high street fashion jewellery retailer went into administration.

Diamonds and Pearls is the latest store chain to follow Woolworths, MFI, Adams Childrenswear, zavvi and others into administration. Several have since disappeared from the high street.

The latest casualty of the economic downturn has around 91 stores across the UK, including Maidstone (The Mall Chequers), Chatham (The Pentagon), Gravesend (Thamesgate Shopping Centre), Ashford (County Square), Dartford (The Priory Centre) and Orpington (Walnuts).

The chain employs more than 300 people.

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KPMG, the business advisory service, has been appointed administrator to the struggling business. It said it was trading "the majority of stores" while it considered options.

Joint administrator Myles Halley said: "We intend to trade the business whilst we seek a buyer as a going concern, however we envisage that certain of the loss making stores will be closed in the coming days and this is likely to result in a number of redundancies."

Diamonds and Peals had been one of the UKs fastest growing fashion retailers. It sells the widest range of fashion jewellery and hair accessories.

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