Dear web site visitor

It is our sad duty to inform you that the shareholders have accepted a very significant offer for the Parkway property of Bolingbroke & Wenley, which will result in the ultimate closure of the business.

This is not part of a long term plan, as the recent opening of our new distribution centre should indicate but is in response to an unsolicited approach that initially involved the possible purchase of the business. The size of the offer came as a surprise to the working shareholders and demanded a re-appraisal of all circumstances.

These included:

The value of the business is now such that neither of the working shareholders could ever afford to buy out the other and in the event of the incapacity or death of either the business would have to be sold.

Inheritance planning has become a major consideration, especially as there is no interest shown by close family in taking over the business.

Significant changes in the market place are making life harder and harder for an independent furniture retailer. These include the internet, the demise of U.K. manufacturing and consequent sourcing from around the world, leading to a compromised delivery of service and consumer expectation of quality at an unrealistic price. When combined with serious increases in fixed costs and red tape, running a large furniture store is becoming increasingly unattractive.

Taking into account all factors and their responsibility to the security and future of their own families, the shareholders reluctantly agreed to bring to an end over 160 years of successful retailing by Bolingbroke & Wenley in Chelmsford.

We would wish to stress that this is to be an orderly exit and that the Company was and is not suffering from any financial difficulties. In order to bring things to a satisfactory conclusion we have ceased taking special orders (non-stock) although consideration will be given to those that may wish to add to existing collections. Delivery of all existing orders will be completed in the usual professional manner. Although we expect to vacate the Parkway site by the end of July, a highly experienced team will continue to work from the new distribution centre until Christmas, to deal with any outstanding issues.

For our wonderful staff this has come as a huge shock. We are mindful that many of you have developed very special relationships with them and we would like to reassure you that any final settlements are considerably in excess of the legal minimum and that an agency has been appointed to provide them with every possible assistance.

It’s never easy to bring to an end an “institution” like Bolingbroke & Wenley and as we both experienced the demise of the High Street store, we are very aware of what a very sad and emotional time it can be. However, having considered all options the shareholders are united in agreement that the timing is propitious and the offer cannot be ignored.

There is no need for our customers to contact us regarding the status of any outstanding  orders, the sale of the Parkway site will not affect your order and we will contact you once your goods are available to arrange delivery.

Thank you for your interest and we humbly ask for your continued support as we work to bring the history of Bolingbroke & Wenley to a satisfactory and dignified conclusion.

Yours sincerely

John Bolingbroke & Simon Watkins
Directors