Industry News by Nemesis

London Bourse to Shut Doors Temporarily

March 25, 2020

 

The London Diamond Bourse (LDB) will close from Wednesday as the coronavirus spreads in the UK.

“The committee has come to the decision that it is in the best interest of our staff and members to close the bourse,” the exchange said last week. “First and foremost, the LDB has a duty of care…and whilst we have been following rigorous health-and-safety guidance from Public Health England, it has become apparent that the virus is spreading at an alarming rate.”

Until Wednesday, the exchange will operate with reduced hours to enable members to collect goods or mail, it noted. However, members will not be allowed to make appointments with the general public during those hours.

“This is the last course of action that we wanted to take, but we feel it will be in everyone’s best interest,” the organization added. “The ever-changing situation has brought about an unprecedented time for all of us in the industry and our families, and it is heavily impacting our daily lives.”

The LDB has not indicated a reopening date, noting its management would closely monitor the situation and would have the bourse “operational as soon as it is practical and safe to do so.”

Image: Hatton Garden, the center of London’s diamond trade.

 

Source: Rapaport

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