Aurum sale deferred till new year

The management of the jewellery group Aurum has decided to defer the sale of the group until new year, in order to concentrate on its Christmas season business, which is a major period for the retailer, reports say. The sale of the group was previously expected to close by summer this year, when it was put up on sale in April. And although Aurum has been approached by many bidders including some overseas, it had not yet received the expected ‘right price’ and is awaiting for the right bidder to come up.

The group operates businesses under the names Goldsmiths, Mappin & Webb and Watches of Switzerland. The group is 67 percent owned by Landsbanki, which upon its collapse had decided to sell off its assets as a winding up process.

But as of now, Aurum is heavily concentrating on its Christmas sale.