The Beville family has reacquired its jewellery brand just one month after it was placed in voluntary administration.

The new Bevilles Corp, headed by Michelle Beville, will retain 250 jobs and 16 stores across three states.

Michelle Beville, Bevilles Corp CEO, stated, “We are extremely pleased that our bid to reacquire the business and retain our fabulous 80 year old brand was successful. I would like to say a big thank you to everyone who has supported us throughout the process, including my family, our tremendous staff and loyal customers.”

The new structure supports Bevilles’ move to smaller, new look, jewellery only format stores which will focus on diamonds and a range of watches and be around  half the size of previous stores.

“The pilot program in Liverpool, NSW and Highpoint, VIC proves that the smaller, smarter, new look, jewellery only format is the right strategy for the brand to move forward with. The 16 stores that have been retained are best suited to this successful new format,” said Beville.

“We also acknowledge that while this is a positive outcome for the brand, there are a number of people that will no longer be with us. We wish them all the best as they too have been a big part of the Bevilles brand.”