Jeweller Theo Fennell halves its losses

THEO FENNELL yesterday said it more than halved its losses in the first half of the year. The luxury jewellery, which is in ongoing takeover talks with private equity firm EME Capital, posted a £610,083 loss in the six months to 30 September down from £1.4m last year, thanks to cost cutting measures. But sales fell eight per cent to £4.9m as the outlook for the retail sector remained uncertain.