UK jeweller purchased after plunging into administration - 46 jobs saved
An independent jewellery retailer trading since 1979 has been purchased after collapsing into administration, saving 46 jobs. The core trading business of C.W. Sellors was acquired by a newly formed group of owners, including members of the company's existing leadership team and outside investors.
The business has a reputation for championing British jewellery making and design. It is also known for its sales of luxury timepieces via its high street boutiques and Jura Watches platform. It also owns W. Hamond. The company announced on Wednesday (March 18) that investor, Stuart Hennell, will serve as Non-Executive Chairman while Antony Lindsay will become CEO.
Mr Lindsay has almost 30 years worth of experience in the jewellery and watch industry.
He has worked across luxury brand development, international retail and the global watch and jewellery market.
The company's new CEO said: "C.W. Sellors is a well-established British jewellery and watch business with strong foundations and a loyal customer base.
"Our focus now is on developing the business further while preserving the craftsmanship, expertise and customer relationships that have defined the brand for almost half a century."
Mr Hennell co-founded the luxury watch platform Watchfinder, building it into a world leading, pre-owned watch retailer before its sale to Richemont, which owns brands including Cartier, Van Cleef & Arpels and IWC Schaffhausen.
He said: "What attracted me here is the combination of an established retail business and a digital platform with real underlying strength. With the right execution, there is clear potential to build something very compelling."
Rebecca Sellors, who is a member of the company's founding family, takes on the role of Managing Director while Alan Lloyd remains as Finance Director.
In its announcement on Wednesday, C.W. Sellors said Ms Sellors' position as MD would make sure the values and principles which have shaped the business remain at its heart as it enters its next phase.
A spokesman for the company said the leadership team will focus on stabilising the business after the recent administration process and rebuilding customer confidence.
He added both its retail and online arms would be strengthened as a result of the acquisition deal.
The spokesman said: "As the acquisition secures the continuation of one of the UK's best-known independent jewellery and watch businesses, the leadership team is now focused on reinforcing the brand's foundations and revitalising both in-store and digital shopping experiences."
Branches in Derbyshire, Shropshire and Yorkshire remain open.