A high street jewellery chain with a £28million turnover has plunged into administration, triggering dozens of redundancies. C.W. Sellors, described as the UK’s “leading independent jewellers”, appointed joint administrators Lee Causer and Benjamin Peterson on January 13.
Mr Causer confirmed that 36 members of staff were made redundant, and administrators are searching for a buyer after the business struggled with “rising overheads” and reduced demand for its luxury products. C.W. Sellors described itself as the UK’s “leading independent family-run jewellers” after launching in Derbyshire in 1979, before opening ten stores in the north and the Midlands.
A notice on its website states that the 47-year-old business “continues to trade” but it will not be accepting any online orders.
Customers can only place an order in 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 one store, W Hamond, resulting in four closures, while other sites will continue to trade as normal.
Lee Causer said: “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,” reports East Midlands Business Link.
The notice confirmed all “affairs, business and property” of the companies are being managed by the administrators, who act as agents without personal liability.
It added: “We appreciate your understanding and continued support during this time.” The same statements appears on the home page of Jura Watches, an online-only business run by C.W. Sellors.
C.W. Sellors said it expanded to become the UK’s “leading independent family-run jewellers” after launching in Ashbourne, selling luxury jewellery from global brands and collections crafted in its workshops.
The jeweller’s most recent accounts on Companies House showed a turnover of £28million in the year to April 2024, compared to £30million the previous year. Its profits for 2024 were listed at £2.1million.
