Jeweller Clive Ranger goes into administration and fashion firm Spirit in liquidation
Jewellery chain Clive Ranger has gone into administration.
The 36-year-old company, which has a store in Burton Street, has called in Deloitte as administrators to find a buyer.
Clive Ranger employs 34 staff at four stores across the South West and South Wales.
The chain, which specialises in diamond rings, opened its first store in Cardiff in 1977, followed by Swansea in 1982. The Bath shop opened in 1992, and the company opened its fourth store at Cribbs Causeway in 1995.
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Richard Hawes, from Deloitte, said: “Clive Ranger Ltd is a well-known brand throughout the South West and South Wales, but has faced a downturn in trading as a result of the current difficult economic trading conditions.
“The four stores will continue to trade as usual while we seek a buyer for the business.”
Meanwhile a family-run business supplying upmarket ladies fashion wear has been placed into liquidation at its directors’ request.
Spirit has closed its store in Bradford on Avon as it copes with the impact of the recession.
Tim Ball, corporate recovery partner at the Bristol office of international accountancy firm Mazars, was appointed liquidator yesterday.
The firm - full name Spirit (Devizes) Ltd - employed around 20 people at stores in Devizes, Marlborough, Bradford on Avon and Frome.
It first began trading in 1999 as a small boutique offering “an eclectic mix of women’s fashions” but Mr Ball said its collapse was due to the general malaise in the retail trade.
“At its peak Spirit had a turnover approaching £1 million, but it was unable to beat the recession and there is a total deficiency to creditors of around £470,000.
“The directors approached Mazars for a review of its business and as a result it was decided they had no option but to place the company into creditors’ voluntary liquidation.
“This is another example of the problems being faced by the retail sector and I am sad to see another family business that has succumbed to difficult trading conditions.”
New tenants are already operating from the Frome and Marlborough premises and it is possible that a firm may acquire the remaining Devizes outlet and assets of the company. The Bradford on Avon outlet has closed and is not expected to reopen.