David Herrington.

Kempe and Whittle, the provisional liquidators, offered the business' inventory, furniture and fixtures and a workshop in Church Street for sale by tender.

Kempe and Whittle insolvency manager Mr. Douglas Jennett said: "All the assets of India House have been sold, including the inventory of the store, a vehicle, furniture and equipment in a workshop''.

Mr. Herrington said: "I am back in the field that I am knowledgeable about.

We finalised details two weeks ago''.

He formerly owned Sovereign Jewellers, which he sold to Trimingham Brothers.

He said business so far had been "not too bad''.

Although he has plans to institute more changes in the shop, he has already installed more units.

"There has been a jewellery store on this site since the Washington Mall opened. There is no reason why it should not continue to do good business.

"The store went through hard times in the recession. The economy is getting better, but we are still taking a chance,'' said Mr. Herrington.