Ortak production stops as redundancies confirmed

The administrators dealing with Orkney jewellery firm Ortak have confirmed that manufacturing has now ceased at the Hatston factory and further redundancies have been made as the company is wound down.

James Stephen, BDO business restructuring partner and joint administrator of Ortak Jewellery Limited, said: “Ortak Jewellery Limited entered administration back in March 2013, caused by the economic climate and difficult trading conditions.

“Since then, the joint administrators continued to trade the business while we explored all the available options. Despite an extensive marketing process and discussions with a number of interested parties over the past several months, it was not possible to effect a sale of the Ortak business as a whole.

“Regretfully, manufacturing ceased on 7 March 2014 and it was necessary to make 15 members of staff at the head office in Orkney redundant. 10 members of staff have been retained to assist with the wind down. Ortak’s remaining four stores will close by the end of March 2014.

“We will be assisting staff with their redundancy claims and we continue to be grateful for their support, as well as that of customers and suppliers throughout this difficult time.”