The board said a new company, G&A Ltd, is to be established to merge the operations of the two principal operating companies, Abbeycrest Jewellers in Leeds and Gallery Jewellers in Birmingham.
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Abbeycrest, the UK's largest designer and manufacturer of gold and jewellery, said sales in the 10 months to 31 December 1995 were 3 per cent ahead of the previous year. The board also unveiled plans for a strategic reorganisation intended to facilitate future growth. Under this, the group said it will take a maximum charge of pounds 450,000 in its 1995/96 financial year.