Shannon's jewellery store spared closure as new owners take the helm
A luxury jewellery firm with decades of trade under its belt has been saved from the axe after the firm running it went bust, it can be revealed.
Administrators were appointed to Shannon's Jewellers Ltd in Co Antrim.
The family firm has been in business for almost 90 years in Ireland, and has been operating for more than 50 years in the Lisburn area.
It has been saved from closure, and remains open and trading, after the store was bought out by another company.
It's understood administrators EY were appointed on Wednesday to Shannon's Jewellers Ltd, which had run the Market Square store in Lisburn.
EY said it did not wish to comment on the details of the administration.
But the store was open and up and running as normal yesterday afternoon and looks set to continue to trade as normal.
It's understood the firm's 20 staff have all been kept on.
It's also understood the business is likely to honour gift vouchers which have already been purchased.
No-one from the jewellers wished to comment.
The firm was first set up by William Shannon back in 1925, when he first opened up his business in Co Cavan.
In November 1962, JJ Shannon's Jewellers first came to Lisburn.
It was initially established in Castle Street, before moving to Market Square.
According to the company website it was around this time that Mervyn and Ruth Shannon "brought a new face to the family business".
It's understood Mervyn Shannon has been at the helm of the business for decades.
Shannon's has also been heavily advertising a major 'winter sale' online.
On its Facebook and Twitter pages, Shannon's states that the sale - which started last Saturday - is "offering up to 70% off selected lines while stock lasts".
Shannon's sells a host of top-end jewellery, including engagement and wedding rings, bracelets, necklaces, as well as top Swiss watch brands such as Tag Heuer.
On the company's website, it states that as the business approaches its 90th anniversary, it recognises "the changes that have occurred over the years, from William's small beginnings to where they are today".
Meanwhile, another Lisburn jewellers is running a closing down sale. Gems jewellers is located at Bow Street Mall.
No-one from the business was available to comment.