Boss blames slump in letter to workers

The sale of a well known Bilston furniture store was laid bare today in a letter sent to its staff by the firm's managing director.

Cole's of Bilston, which has been around since 1921 and is the biggest independent furniture retailer in the West Midlands, has accepted an offer to sell the business to Welsh firm Leekes.

In a heartfelt letter to the workforce, Cole's managing director Bob Chittleborough said the staff would retain their jobs and transfer to Leekes with the same employment rights and pay.

But he warned that some "support roles" would be made redundant, although the letter does not state how many.

The sale of the business, which has always been owned by the Cole family, is still subject to contract but is expected to be complete within weeks.

In the letter, Mr Chittleborough states: "The dramatic downturn in the economy over the last 18 month has had an impact on the majority of businesses and we are no exception.

"During that time, we have suffered quite severe losses which, if allowed to continue, could jeapardise the business as a whole.

Difficult

"After much deliberation, the Cole family and the board of directors have taken the very difficult decision to accept an offer to buy our business from Leekes Ltd, subject to contract."

He tells staff: "Obviously, the family are very disappointed that they will no longer be involved and they would like to thank all staff for their loyalty and support over the years."

Leekes, which has four shops across Wales, with the head office based in Tonypandy, sells furnishings, kitchens, bathrooms and home accessories, while boasting a turnover of £50million.

Once the sale is complete, all the workers at Cole's of Bilston will becomes Leekes employees. Anyone who opts out will not be entitled to redundancy or severance pay.

It is unclear if the store in Great Bridge Road, Bilston, as well as three others in Bedworth, Solihull and Stoke on Trent, will still retain the Cole family name.

By Tom Edwards