Wedding ring division bought

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JEWELLER Abbeycrest’s administrators have sold its specialist wedding ring division Brown & Newirth to a management buyout

The management was supported by Manchester-based investment vehicle, Chrysus. Brown & Newirth said the deal had secured jobs and it will continue taking orders from retailers.

Abbeycrest said administrator Leonard Curtis has also sold the shares of Abbeycrest Thailand to Chrysus. It added that it is not anticipated that there will be a return to shareholders.