Heartbreak as high street jewellery chain with ‘£28m turnover’ plunges into administratio | UK | News
A high street jewelery chain with a turnover of £28m has gone into administration, triggering dozens of redundancies. CW Sellors, described as the UK’s “leading independent jewellers”, appointed Lee Causer and Benjamin Peterson as joint administrators on 13 January.
Mr Causer confirmed 36 staff had been made redundant and administrators were seeking a buyer after the business struggled with “increasing overheads” and reduced demand for luxury goods. After launching in Derbyshire in 1979, CW Sellors described itself as the UK’s “leading independent family-run jewellers”, before opening ten stores in the north and Midlands.
A notice on its website says the 47-year-old business “continues to trade” but will not be accepting any online orders.
Customers can only order from one of four stores in Ashbourne, Bakewell, Shrewsbury or Matlock, and sister branches under the W Hamond fascia in York and Whitby.
Administrators will reportedly consolidate all Whitby sites into a single store called W Hamond, resulting in four stores closing, while the other sites will continue trading as normal.
Lee Causer said: “The business is experiencing difficult trading conditions with rising overhead costs and reduced demand for high-end products.
“Sadly, 36 people have been made redundant with immediate effect. The company’s remaining 50 employees will be retained for a period of time to help the Administrators trade the business while a buyer is sought.” East Midlands Business Connection.
The notice confirmed that all of the companies’ “business, affairs and property” were managed by directors acting as agents without personal liability.
He added: “Thank you for your understanding and continued support during this time.” The same wording appears on the homepage of Jura Watches, an online-only business run by CW Sellors.
Since launching in Ashbourne, CW Sellors said it has become the UK’s “leading independent family-run jewellers”, selling luxury jewelery from global brands and collections crafted in its workshops.
The jeweler’s latest accounts at Companies House showed a turnover of £28m in the year to April 2024, compared to £30m the previous year. Profits for 2024 were listed at £2.1 million.
