Roxoa Jewellery Group sold in pre-pack after borrowing costs bite

Roxoa Group Ltd, the Gateshead-based parent of several online jewellery businesses, entered administration on 13 August 2026 and was sold with three trading subsidiaries in a pre-pack transaction that preserved all 17 jobs.

Sean Williams and Iain Nairn of Leonard Curtis were appointed joint administrators of Roxoa Group, as well as QP Jewellers (UK) Ltd, Ruby & Oscar Ltd and Gold Boutique (UK) Ltd, on the same date.

The trade and assets of the four companies were acquired by newly formed Roxoa Holdings Limited, backed by two investors identified through a sale process conducted by Leonard Curtis. The transaction allowed the businesses to continue operating from their Gateshead headquarters and retained the group's entire 17-person workforce. Bail & Stone Ltd, another jewellery business associated with the group, was not included in the administrations and continues to trade separately.

Roxoa's businesses specialise in online sales of fine jewellery, including gemstone, diamond, gold, platinum and sterling silver products. The portfolio includes the QP Jewellers, Ruby & Oscar and Gold Boutique brands. Roxoa Group was incorporated in 2014, while QP Jewellers dates to 2013 and Gold Boutique to 2014.

The group's financial difficulties followed an internal project intended to improve efficiency and effectiveness. The initiative exceeded its budget, creating a funding shortfall that required the businesses to raise external finance. The resulting borrowing costs became unsustainable, prompting the directors to engage Leonard Curtis to assess restructuring options and market the businesses and assets for sale.

Roxoa Group's latest accounts, for the year ended 31 July 2025, showed approximately £1.2 million of current assets but net liabilities of about £39,000. Its three trading subsidiaries remained balance-sheet solvent on their latest filed accounts, with QP Jewellers reporting net assets of about £58,000, Ruby & Oscar approximately £21,500 and Gold Boutique approximately £35,000.

Nairn described the business as commercially sound but facing short-term pressure while attempting to improve its operations, and said the new investment would preserve the brands, customer continuity and the Gateshead workforce.

Cerberus Receivables Management and The Advisory Group provided valuation support during the sale process. Clark Mairs acted for the purchasers.