A jewellery manufacturer with "hundreds of years of collective experience" has collapsed into administration. Administrators have been appointed to Andra Jewels, which traded in Hastings and Birmingham, according to The Gazette.

A member of The National Association of Jewellers, Andra Jewels offered production support to jewellery brands growing "from little acorns into great oak trees". Services provided by the company included setting, soldering, polishing and plating.

Joint administrators from Moorfields, Andrew Pear and Milan Vuceljic, were appointed at the High Court. Andra Jewels and Moorfields have been approached for comment.

News of Andra Jewels entering administration comes two days after it emerged that the number of UK businesses collapsing into administration surged by more than 40% in January.

Insolvency Service figures showed the number of company administrations rose by 41% to 151 between December and January. This is 14% higher than a year earlier.

Sarah Rayment, managing director and global co-head of restructuring at Kroll, said: "The key question at this point in the year is whether distress and insolvencies will continue to rise given the pressures facing UK businesses.

"There are signs of resilience in the economy, inflation has steadied and markets expect interest rate cuts later in the year, but the picture is far from uniform"

She added there was concern across the high street economy, particularly retail, leisure and hospitality, where the debate around business rates reform adds to an already difficult trading environment.

Ms Rayment concluded: "The reality is that every sector will face headwinds this year."

Todd Davison, managing director at Purbeck Insurance Services, said a 40% surge in administrations was deeply concerning not just for the businesses but for the individuals behind them as well.

He said: "When a company collapses, the impact doesn't always stop at the business itself.

"Many directors will have signed personal guarantees to secure loans, overdrafts or trade finance."

He said if the business fails, those guarantees can be called in, potentially putting personal assets - including family homes and savings - at risk.