Founding family buys back into discount jewellery chain
HPJ Jewellers has been bought out of administration by HPJ Retailing, securing 465 jobs in the company's 73 jewellery stores in the UK and Ireland. The deal was handled by administrator BDO Stoy Hayward.

HPJ Retailing, a subsidiary of Family Jewels, has acquired the business for an undisclosed sum. Family Jewels is backed by the Builder family, who licensed the use of the HPJ concept and name in the early 1990s to an independent UK company.

BDO was called in less than two weeks ago at the request of the company's director after poor Christmas trading. HPJ Jewellers continued to operate the business in order to sell it as a going concern. Seven branches have been closed and the retailer made 67 redundancies.

HPJ Retailing director Teak Builder said: 'We're delighted to have acquired HPJ Jewellers. We aim to ensure that HPJ continues to be the leading best-value discount jeweller in the country.'

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