Don't miss a story sign up to Sidmouth Herald's FREE daily newsletter CLICK HERE

Fields bosses set sights on eventual retirement

PUBLISHED: 11:32 11 March 2014 | UPDATED: 11:47 11 March 2014

Fields of Sidmouth. Photo by Terry Ife. Ref shs 2448-10-14TI

Fields of Sidmouth. Photo by Terry Ife. Ref shs 2448-10-14TI

Archant

BOSSES at Fields of Sidmouth have told staff of their eventual plans to sell the 200-year-old outlet as a going concern – but insist it will be ‘business as usual’.

The independent department store’s four executive directors have set their sights on retirement and have acted early and openly to let valued workers know about the firm’s potential future.

They told the Herald this week that Fields of Sidmouth Ltd is ‘beginning the process’ of marketing the business.

The directors will be seeking a purchaser who is ‘sympathetic to the trading ethos of the company, sharing Fields’ customer-centred approach and will value its skilled and loyal workforce’, but no timescale has been set.

The Spores and Roberts families have been owners and directors of Fields for 36 years.

“We have developed a strong and substantial business, but with no younger family members in a position to follow - and the need to make our own future retirement plans - we felt the time was now right to inform our loyal workforce,” said joint managing director Tim Spores.

“It will take time to find the right purchaser and no definitive timetable can be given. In the meantime, Fields will continue ‘business as usual’ while working alongside staff to ensure the company’s smooth transition.

“The company has weathered the recent financial crisis well. Its balance sheet is sound, with no outstanding debts, and will be attractive to a future purchaser.”

Staff were informed on Tuesday morning.

Joint managing director Trevor Roberts added: “Fields isn’t up for sale.

“The directors are not getting any younger, and we are starting the process by which we will retire from the business – which seems quite a long time off. We all can’t go on forever.

“At the moment all we have done is advise our staff what the eventual plans for the business will be.

“We are custodians of a strong business that has been here for a couple of hundred years and we want to move forward successfully.”

There has been retail activity on the Market Place site occupied by Fields for 200 years. The premises were acquired by John Field in the 1870s and 1880s and gradually amalgamated into a full drapery store.

The store’s frontage today is very much as it was in 1800.

Other News Stories

Yesterday, 18:30

Art lovers helped to raise £100 at an open-air exhibition in Sidmouth, held in aid of two worth-while charities.

Read more
Yesterday, 15:36

Break-ins are a perennial problem in rural car parks so the Herald teamed up with Sidmouth police to show just how quickly thieves can strike.

Read more
Yesterday, 12:30

Forty youngsters took a step closer to becoming fully qualified lifeguards after they put their minds and bodies to the test at the weekend.

Read more
Yesterday, 10:31

A big breakfast in Sidford Social Hall netted a ‘fantastic’ £1,150 for Force Cancer Charity.

Read more
Yesterday, 09:45

A Devon based charity making dreams come true for those living with disabilities has raised £68,000 in one week.

Read more
Wed, 18:30

If you are a carer working in the industry or looking after a loved one we want to hear your stories to encourage more recruitment in the sector in our new campaign. The question is, could you care?

Read more
Wed, 17:09

Consultants are set to create an outline design a scheme to protect Sidmouth from coastal flooding and erosion in the new year.

Read more
Wed, 13:14

How much should tax payers contribute to the council tax bills of people on low incomes?

Read more
Wed, 12:30

Sidmouth Carnival will roll back into town on Saturday, September 23.

Read more
Wed, 09:18

Decision-makers will conduct a site visit to properly consider new plans for a four-storey apartment block in a prominent location on Sidmouth seafront.

Read more

Local Weather

Partly Cloudy

Partly Cloudy

max temp: 16°C

min temp: 15°C

Most Read News

Useful Links

Family notices
Advertise in the paper
Submit a Story
Submit a Story
Buy Photos
Competitions
iwitness24
Facebook
Twitter
Google Plus Page
Reader Travel

Family Notices 24

Read Online

Image
Read the Sidmouth Herald e-edition E-edition

Newsletter Sign Up

Sign up to receive our regular email newsletter

Local business directory

Devon's trusted business finder

HOT JOBS

Show Job Lists


Find planning applications