THIS jewellers is selling all its stock at half price as it prepares to close down for good.

Claybrooks Jewellers, the owners of Farrens Jewellers, in Pelhams Lane, Colchester, has announced the shop will close once the premises’ lease expires.

A huge closing down sale started on Saturday, however there is still a considerable amount of items, including diamonds, gold and silver on offer.

Stephen Cohen, a director of Claybrooks Jewellers, said: "We had a much busier day on Saturday than we are used to because people could see the cheap prices.

"But there is still a considerable amount of stock to clear as 30 years of jewellery has built up in the shop."

The business is closing after three decades in Colchester due to difficult trading conditions in the town centre. 

Mr Cohen said: “Business has been pretty poor there in recent years and like for many retailers things have got worse.

“Due to the end of the lease coming up it became an opportunity for us to close the shop.

“We are no different to any other retailers on the high street, the main thing which has affected us has been the decline in footfall. It has declined dramatically.

“There is not anything particularly wrong with the shop it is just people are not visiting.

“Whether it is the internet, or the economy generally, it is tough.

“The last five years particularly have been difficult.

“It was a very hard decision but it does not make financial sense for us to renew the lease."

Staff have been told they are at risk of redundancy, however bosses are exploring whether they can be moved to other locations.