A Gateshead-headquartered collection of online jewellery businesses has been sold in a pre-pack administration, preserving 17 jobs and ensuring the continuity of several consumer-facing brands.
Quick rescue after financial setback
Joint administrators from restructuring specialists Leonard Curtis were appointed to the parent company Roxoa Group Ltd earlier this month after the group encountered financial pressure during an internal efficiency project. The group comprised the trading businesses QP Jewellers (UK) Ltd, Ruby & Oscar Ltd and Gold Boutique (UK) Ltd; another business, Bail & Stone Ltd, was not part of the administration.
The administrators said the companies had been attempting a programme of improvements when an overspend left them needing to raise additional finance. That borrowing, the administrators found, became difficult to service—prompting directors to seek professional advice and to ask Leonard Curtis to assess the options.
Buyers form new holding company
After marketing the business and its assets, the administrators identified two investors who together established a new vehicle, Roxoa Holdings Limited. That new company purchased the trade and assets of the three businesses that were in administration.
| Company | Status |
|---|---|
| Roxoa Group Ltd (parent) | In administration |
| QP Jewellers (UK) Ltd | Trade and assets sold to Roxoa Holdings Limited |
| Ruby & Oscar Ltd | Trade and assets sold to Roxoa Holdings Limited |
| Gold Boutique (UK) Ltd | Trade and assets sold to Roxoa Holdings Limited |
| Bail & Stone Ltd | Not in administration |
The administrators instructed valuation and advisory firms to support the process: Cerberus Receivables Management and The Advisory Group Ltd on valuations, and Clark Mairs LLP acted as legal advisers to the buyers. Leonard Curtis’s in-house legal team supported the joint administrators.
"This was a highly credible, well-run business facing short-term challenges as it looked to improve trading efficiency. We are delighted to have secured fresh investment, from experienced investors at just the right time. This will allow the company to continue to serve its customers, maintain continuity under its trusted brands and preserve a valued workforce in Gateshead." — Joint administrator Iain Nairn
Local impact and next steps
The pre-pack sale has immediate implications for staff, customers and the wider local economy. The deal preserves 17 positions at the Gateshead base, avoiding redundancies that would otherwise have arisen from a prolonged insolvency process. For customers, the transaction aims to keep the group’s online operations and brand identities running without interruption.
- Jobs secured: 17 roles retained at the Gateshead headquarters.
- Brands retained: Trade and assets of QP Jewellers, Ruby & Oscar and Gold Boutique transferred to new owner.
- Operation continuity: Administrators and buyers have positioned the purchase to maintain customer service under established brand names.
Pre-pack administrations—where a buyer is lined up and the sale of business or assets is completed shortly after the administrator takes control—are often used to preserve value and jobs but can prompt scrutiny from creditors and other stakeholders. In this instance, the administrators said they had actively marketed the businesses and identified two investors in order to secure an outcome that would protect staff and preserve trading.
Local observers will be watching how the new Roxoa Holdings Limited manages the inherited operations and whether the refreshed ownership can stabilise trading and deliver on the efficiency improvements that led to the earlier overspend. The administrators’ engagement of valuation and legal specialists, and the timely identification of buyers, helped expedite a solution that has so far protected employees and preserved customer-facing services based in Gateshead.
The deal underscores the role of specialist turnaround advisers in rescuing local firms and highlights the challenges that can arise when internal projects overshoot their budgets and require external finance. For now, the outcome will be judged on the ability of the new owners to sustain the businesses and jobs that are important to the Gateshead community.
