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Popular jewellery store Silvermoon has gone into voluntary liquidation citing an “arduous battle” against economic conditions.
In an emotional email to customers, the brand, which has 10 stores nationwide, revealed it would sell remaining stock, honour gift vouchers and close, with the message: “Our journey ends here.”
A letter tocustomers on the Silvermoon website says the decision was a tough one with management looking at all other options.
“After considerable reflection and exhaustive exploration of all possible avenues to sustain our operations, it has become clear that Silvermoon Jewellers must embark on a closing journey, leading to liquidation,” the message reads.
Silvermoon Jewellers has announced its liquidation citing harsh economic conditions.
“Despite the diligent efforts and unwavering commitment of our entire team, the prevailing economic conditions and unforeseen market dynamics have rendered our continuation untenable.”
The liquidator is named as Bryan Williams,of BWA Insolvency Ltd in Auckland.
Silvermoon Jewellers encouraged holders of gift vouchers to spend them as soon as possible and said it had made special arrangements with the liquidator so they could be redeemed. There was a special condition that the customer had to match the value of the gift card — if a $20 voucher was held, $20 had to be spent.
A Silvermoon Jewellers store in Auckland's Newmarket. The brand has gone into liquidation. Photo / Google
The company announced there would be a sale to clear stock, but it could not accept any returns.
As well as its own designs, the store stocks popular New Zealand designers such as Karen Walker, Stolen Girlfriends Club, Boh Runga and Meadowlark.
The store was founded by Simon Thwaites as a “kiosk style” shop in malls in 2000, and stocked sterling silver jewellery from Bali, Thailand and Mexico. It had a redesign in the mid-2000s and set up larger stores with counters to stock higher-end brands such as Karen Walker.
The stores thrived and did well throughout the global financial crisis.
Thwaites sold the store to present owner Peter Lee in 2017.
Management thanked loyal customers and said the business would continue until the stock was cleared.
A discount code is giving 20 per cent off for online orders.
“From the bottom of our hearts, we thank you for allowing us to be a part of your lives, for sharing in your celebrations, and for choosing us to symbolise the moments that matter most,” the email reads.
“While we may be saying goodbye to Silvermoon Jewellers, the memories and connections we’ve forged will forever be cherished.”
Kirsty Wynn is an Auckland-based journalist with more than 20 years’ experience in New Zealand newsrooms. She has covered everything from crime and social issues to the property market and consumer affairs.
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