Former New Look
director Alan Wood and his wife Lisa have rescued the High Street
jeweller Mikey from going into administration.
Collectively they have purchased eight standalone stores and eight concessions under their
company name, Amaranth Accessories, from Tenon the administrators.
Tenon closed 14 outlets after the jewellery store went into
administration after having
cash flow problems earlier this month.
According to Lisa Wood, Mikey was a "fantastic brand" that needs a "professional polish to the operational side of the
business ."
Wood said, "The first step is about housekeeping – we need to beef up the infrastructure."
She added that view Mikey as a premium business and had "no intention to go down the price-volume route".
Wood also indicated the possibility of opening more UK stores and want to establish the brand in the
Middle East with the next year.
Michael Waterman, Mikey’s founder will be kept on as
creative director .
Amaranth said they would want to expand the category range by extending the bag range and promote the brand in a similar way to the emporium on the King’s Road. This store sells niche
home ware products such as
crystal chandeliers .
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