Olivia Grace London has formally entered creditor’s voluntary liquidation

Olivia Grace London has formally entered creditors’ voluntary liquidation after mounting financial pressures. The jeweller had marketed itself as a contemporary London brand and operated through its website and other online channels for years.But the company’s latest accounts reveal that it had been struggling financially before directors pulled the plug on the company.

The firm’s assets had fallen while debts due within a year outweighed what the company had available to pay them. Directors ultimately concluded the business could no longer meet its financial obligations, triggering the move into creditors’ voluntary liquidation.That process means the company’s remaining stock and assets could now be sold off in an attempt to repay creditors.The collapse is another grim sign for retailers operating in and around London’s famed jewellery trade, often dubbed the capital’s “diamond district”.