HPJ Jewellers in administration

HPJ Jewellers, formerly branded Half Price Jewellers, has been put into administration after a difficult Christmas, placing 500 jobs in jeopardy.

BDO Stoy Hayward has been appointed to assess options for the 80-store business, which is registered as HPJ UK. Immediate action taken included cutting 67 jobs and closing seven stores, in Croydon, Liverpool, Swindon, Dundee, East Kilbride and two in Glasgow.

BDO Stoy Hayward administrator Dermot Power said: 'HPJ UK suffered from poor Christmas trade and severe value-driven competition. As a result, the company has sought the protection of an administration order. Regrettably, redundancies were required to reduce company costs.'

The future of more than 500 of the original 611 jobs remains in doubt.