High-end jewellery shop Vashi - which has four London stores - has gone bust, according to reports.
Sky News reported that the high-end jeweller called in Teneo Restructuring to act as liquidators after landlord the Canary Wharf Group filed a winding-up order.
“The intention of the liquidators is to locate and preserve assets of the business for the benefit of creditors,” Teneo said.
Vashi - which has stores in Covent Garden, Westfield and the City’s Royal Exchange as well as Canary Wharf and a head office and manufacturing centre in the West End - employs more than 250 people. A fifth shop, located on Bond Street, was on the way.
The retailer sells engagement rings, which fetch up to £150,000, as well as diamond bracelets for almost £25,000, as well as necklaces and jewellery featuring other precious gemstones such as sapphires and emeralds.
Vashi had aimed to raise £75 million at a £250 million valuation last year.
