Ex New Look director saves Mikey

Thu, 27 Jul 2006

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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