MODEL Tara Nowy yesterday launched the autumn-winter collection from Orkney-based jeweller Ortak, despite the company still being in administration.
The firm fell into the hands of administrators from accountancy firm BDO in March, amid soaring gold and silver prices and the effect of the recession on high street shopping. Three stores have been closed – in Edinburgh, Glasgow and Stirling – and 40 jobs have been axed, taking its headcount down to 127.
Alistair Gray, managing director at Ortak, said: “We have been overwhelmed by support for Ortak over the past few months and the clear affection that many customers have for the brand.
“Investment in new designs has always been the lifeblood of Ortak and we are delighted to launch our new collections despite this difficult time.”
James Stephen, a partner at BDO, added: “Following the restructuring implemented, Ortak now has a profitable business model that would be attractive to investors and could be enhanced by further planning.”