Job fears as Cole's sold off
A long-established Black Country furniture store was today taken over by a retail giant, putting jobs at risk. Cole's of Bilston staff were called in for talks about their future.
Talks have been ongoing for months about a buyout by Leekes, based in Wales. because of the economic downturn.
Today's takeover marks the end of an era for the biggest independent furniture retailer in the West Midlands, which has been trading since 1921 and has always been owned by the Cole family.
Leekes spokesman Martyn Lewis said today staff were being consulted over possible redundancies following the buy-out. The company employs 60 people at the Wolverhampton store.
But less than a third of those working at Bilson are under threat and there will be no redundancies at the other plants in Bedworth and Fenton.
"The sale went through last night and we are trading as Leekes from today," he said.
"We will be keeping the majority of staff and a four-week consultation has now started."
The sale of the Great Bridge Road store was revealed today in a letter sent to its staff by the firm's boss.
Cole's managing director Bob Chittleborough said the dramatic downturn in the economy over the past 18 months had forced the sale.
"We have suffered quite severe losses which, if allowed to continue, could jeopardise the business."
