Bishop Fleming

SHERBORNE ANTIQUES BUSINESS GOES INTO ADMINISTRATION

Administrators announce major stock sale

Antiques dealers and collectors will be gathering in Sherborne for a special stock sale.

The board of directors of Sherborne antiques business, Dodge & Son Limited, has appointed Joint Administrators, Sam Talby and Jerry O‘Sullivan of South West accountancy firm, Bishop Fleming.

Joint administrator, Sam Talby, said: “Our aim is to do everything possible to help rescue this company as a going concern by managing the business through a tough trading period.”

Part of those efforts will be a stock clearance, to release cash tied up in the antiques business‘s extensive stock holdings.

The business will be closed from Saturday 13th to Tuesday 16th September to mark down every piece of stock.

The store will reopen on 24th and 25th September, 9am – 10pm for invited purchasers.

The sale will then open to the general public on the 26th and run until the 12th October from the company‘s premises in Sherborne.

“All prices in the sale will be competitively discounted,” said Mr Talby.

The company‘s controlling director, Simon Dodge, took independent advice from the business recovery specialists at Bishop Fleming before deciding to make the administrative appointments, aimed at protecting the business, its creditors, and its four employees.

“While we still have to confront the market‘s severely challenging downturn, this is a refreshing example of a business owner recognising sufficiently early that he needs help, while there is a real prospect of recovery. All too often, our profession is called in so late that rescue becomes almost impossible”, said Mr Talby.

The appointment of administrators only relates to the Dodge & Son antiques business; any related businesses are totally unaffected.

END 15th September 2008

For further information please contact Louie Hadley, Sturgess Van Damme, on 01275 349011 or email louie@sturgessvandamme.co.uk