The Scots-founded business has been trading since 1985.
Another retailer from the Scottish high street has collapsed into administration. All nine employees currently working at the firm’s two sites in Edinburgh and Glasgow are set to be made redundant.
Bespoke jewellery firm The Ringmaker has collapsed into liquidation after 40-years of trading. It has been reported that the move comes after the firm has racked up debts and left creditors our of pocket.
The Scots-founded company, which first opened in 1985, specialised in designing and hand-making engagement and wedding rings. It employed a specialist team of designers across its Ingram Street showroom in Glasgow and the firm’s other base at Dundas Street in Edinburgh.
As reported by the National, suppliers and customers claim they have been met with no response from bosses at the firm for weeks when trying to chase information about bills and invoices.
The company is said to have been inactive on its social media channels, with its last posts being published in January. Based off its final social media posts, it seems the firm was trading over the Christmas period, offering deals of up to 50 percent off.
However, customers and suppliers have since received no communication regarding invoices and bills. On Facebook, some shoppers say they have been contacted directly by liquidators following the news.
There had been reports that the retailer had been struggling for a while, with both suppliers and customers receiving no response to queries. This was before a formal liquidation notice appeared on the Companies House website.
A source told the Glasgow Times: “Rumours had circulated for a while that the business was in trouble. I’d heard suppliers say that when they tried to get in touch, no calls were being returned and no emails were being answered.
“It was just mounting bills by the looks of it. The jewellery business in Glasgow is so competitive, customers just don’t have the money to spend like they did in previous years. It’s really sad to see such a respected firm go bust like this.”
Azets in Renfrew were named as liquidators for the jewellery firm’s parent firm Holkar Ltd and Ninety Four Ltd. It has also been confirmed that all nine staff members were “regrettably” let go following the announcement.
Get more Daily Record exclusives by signing up for free to Google’s preferred sources. Click HERE
Blair Milne, restructuring and insolvency partner at Azets and the joint provisional liquidator, said: “Holkar Ltd and Ninety Four Ltd, which traded in Glasgow and Edinburgh as The Ringmaker, experienced a difficult trading period in recent months and a downturn in trade in the run up to Christmas. This continued into the start of this year and led to the company being unable to pay its debts.
“Having sought professional advice, the directors took the difficult decision to cease trading on 13 January and seek the appointment of a liquidator. We were subsequently appointed as provisional liquidators to both businesses on 21 January.”
He added: “The two companies employed a total of nine people, all of whom have regrettably had to be made redundant, and this process was instigated prior to our appointment. We will help employees with their entitlement claims to the Redundancy Payments Service and shall safeguard the assets of the companies while we arrange their sale in an effort to provide a return to the company’s creditors.
“We have returned the majority of jewellery belonging to customers of both businesses and encourage anyone who has any queries relating to this case to contact the provisional liquidators via the Azets website.”
The Ringmaker is just the latest retailer to collapse into administration recently. The Scottish high street has suffered some major blows since 2025, with many companies closing down several stores or collapsing completely.
Quiz Clothing, another Scots-founded brand, confirmed it had appointed administrators at Interpath in February. The move has made all 109 head office and warehouse staff redundant, while the future of its 40 stores are at risk of closure.

