Preferred bidder for Ortak to be named ‘within days’

Administrators BDO say that they expect to name a preferred bidder for Orkney jewellery firm Ortak in the very near future.

A spokesperson for BDO confirmed the move this morning, saying: “Discussions continue with a number of interested parties and administrators expect to appoint a preferred bidder in the next few days.”

It was in March that Ortak Jewellery Limited went into administration. BDO LLP business restructuring partners, James Stephen and Graham Newton, were appointed Joint Administrators over the company.

When appointed, the Joint Administrators said that the company would continue to trade, with a view to effecting a sale as a going concern.

In early April it was confirmed that 28 members of staff were made redundant and three of the company’s stores south had been closed.