“No appetite” for C.W. Sellors’ future as suppliers and staff left out of pocket

Any slim hopes of a future for retailer C.W. Sellors are up in smoke, as administrators have concluded that there is no prospect of the company being rescued as a going concern. 

After being brought in as joint administrators in January of this year, Lee Causer and Benjamin Peterson of BDO said in a Wednesday filing that there was no appetite from C.W. Sellors’ shareholders or third parties to inject enough cash into the struggling business to continue operations.

It leaves the prospect of unsecured creditors — including watch suppliers and members of staff — recouping any money very slim indeed. One that stands out on the official statement of affairs is Richemont, which is owed almost £80,000 across its Montblanc, IWC, and Panerai brands.

The company’s website is no longer taking online orders, and users are greeted with a message telling them this when they enter the site.

Along with the economic headwinds and global market shocks that all high street jewellers have been having to navigate, C.W. Sellors specifically will look back at the gamble it took on the Waters Views project in Carsington.

Spiralling costs, partly caused by raging inflation at the time, combined with a cooling off of trade post-Covid, made the project unviable and it was placed on the market last autumn.