A jewellery shop which was set to close has been saved and re-branded after a last minute buy-out.
The future of Wave Contemporary Jewellery, in Marketgate, Lancaster, was plunged into doubt when the business went into administration in September.
After it was restructured in a pre-packaged deal, co-founder Paul Henderson then bought the business - comprising stores in Kendal, Lancaster and Manchester - through new company Vault Luxury Ltd, taking on a large amount of Wave’s debt.
To help pay it off, he sold the Lancaster shop to Yorkshire firm Joshua James Jewellery and, on Saturday, the re-branded shop opened with the previous three staff kept on and a new person appointed. Managing director Shaun Bell said: “I’ve been aware of this possibility for some time and believe it to be an excellent acquisition in a great location with many possibilities to take things to a new level.
“We’re a relatively young company that has quickly become a well-established name in the industry. We have a great deal of experience in the retail and online sectors, and we will be utilising every aspect of that experience to bring the required level of growth to this new venture.
“As ever, we want to remain ahead of current trends with a vast and ever increasing range of the latest mid-range fashion that people desperately want to wear – especially at Christmas.”
Mr Bell described talks with Wave as “lengthy but amicable” and said he was “thrilled” at the result.
He said he wanted the store to have a “completely new look, feel and mentality”, adding: “This project has involved an unprecedented amount of work around the clock over the last few weeks but I’m sure shoppers will appreciate the transformation in look and feel.”