In a significant blow to the UK's retail landscape, a prominent family-run jewellery business with nearly half a century of history has entered administration. C W Sellors, a watch and jewellery retailer established in 1979, has confirmed the appointment of administrators and the immediate redundancy of 36 employees.
A High Street Staple Faces Administration
The firm, which operated both online and through ten physical stores across the North of England and the Midlands, has been a familiar presence in towns including Whitby, York, Ashbourne, Bakewell, Matlock, and Shrewsbury. Representatives Lee Causer and Ben Peterson from the business advisory firm BDO were appointed as joint administrators in early January.
Restructuring and Redundancies
According to BDO, a restructuring initiative that consolidated all Whitby sites into a single shop, W Hamond, led to the closure of four stores. The administrators have stated that the business will continue to trade normally at its remaining locations while they seek a buyer.
Lee Causer, joint administrator at BDO, commented: "The business has been experiencing challenging trading conditions, with rising overheads and lower demand for its high-end products. Regrettably, 36 people have been made redundant with immediate effect. The company’s remaining 50 employees will be retained for a period to assist the administrators to trade the business whilst a buyer is sought."
Financial Pressures and Market Challenges
The administrators cited cash flow turmoil as a primary factor in the firm's difficulties, attributing this to rising operational costs and weakened consumer trade exacerbated by the ongoing cost-of-living crisis. This financial strain persisted despite previous investments in new manufacturing and training facilities.
Financial records indicate a decline in turnover, with the business reporting £28.5 million at the end of April 2024, down from £30.4 million the previous year.
Business Operations and Legacy
C W Sellors described itself as a leading independent family-run jeweller, specialising in fine jewellery and luxury watches from exclusive global brands and designers. Its collections featured diamond and gemstone jewellery, including distinctive UK gemstones such as Derbyshire Blue John and Whitby Jet.
The retailer offered prestigious brands including:
- IWC Schaffhausen
- Breitling
- TAG Heuer
- Gucci
- Longines
- Montblanc
- Oris
- Bremont
Additionally, the firm served as a supplier to the Company of Master Jewellers, recognised as the largest watch and jewellery buying group in the UK and Ireland.
Current Trading Status
A notice on the C W Sellors website confirms that the business continues to trade, though online orders are currently not being accepted. The physical stores in Ashbourne, Bakewell, Shrewsbury, Matlock, York, and Whitby remain open for in-person orders.
The statement on the website adds: "We appreciate your understanding and continued support during this time."
The administration of this long-standing retailer highlights the persistent challenges facing the UK high street, particularly for businesses specialising in luxury goods during periods of economic uncertainty.
