Jewellery store closes after 30 years

First published: 16-08-2011

A jewellery store in Birmingham with a history of 30 years in business has finally closed down, it has been reported.

Eric's Jewellers, owned by the Abbeycrest group, said the decision to close down was strategic, Professional Jeweller revealed.

It is believed increases in gold prices affected the decision, according to a source close to Abbeycrest.

The store, located in the city's Jewellery Quarter, may well be among a number of retailers in the area affected by cash-for-gold businesses that have moved in.

Simon Ashcroft, chairman of Abbeycrest, told the publication: "Today we began a process of closing our retail operation in Birmingham's Jewellery Quarter.

"We have, at this particular juncture, chosen to focus our resource and investment in our core profitable businesses."

Last week, it was revealed a number of jewellers suffered as a direct result of the London riots that swept both the city and other locations, including Birmingham.

Stores across Tottenham, Enfield and Wood Green were all targeted in the attacks.
 

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