Fields bosses set sights on eventual retirement

11:32 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.

0 comments

Other News Stories

Yesterday, 11:00
Tommy Duffy

The community is pulling together to ensure the tragic circumstances surrounding the death of a homeless man are not repeated.

Read more
Yesterday, 06:15
XXXX

As a boy, he wore his grandfather’s medals with pride. Today, Colin Kingman tells the story of a man who overcame adversity to become a Victoria Cross holder.

Read more
Saturday, March 28, 2015
Aidan Corfield on the rugby themed obstacle course at the world cup warm up event at Sidmouth rugby club. Ref shs 4241-13-15TI. Picture: Terry Ife

Sidmouth Rugby Club put on a ‘spectacle of all levels’ with a family fun day.

Read more
Saturday, March 28, 2015
Free at last: One of the beavers swims away after being released in to the River Otter this week. Picture: Devon Wildlife Trust

A nine-month battle to allow England’s only wild beaver family to remain on the River Otter came to a close this week, after the animals were safely returned home.

Read more
Friday, March 27, 2015
Tanya Trevena serves tea with Chloe Beard,Christina Clapp,Hazel Clapp,Sarah Turner and Ivor Turner at the guides vintage tea party. Ref shs 4487-13-15TI. Picture: Terry Ife

A girl guides leader is finding her sea legs as she prepares to embark on a five-day sailing voyage in the Rolex Fastnet Race later this year.

Read more
Friday, March 27, 2015
The official launch for Claire Wright's campaign to become elected as an East Devon Independent MP took place in the Unitarian Chapel in Sidmouth this week. Photo by Simon Horn. Ref shs 4039-23-14SH To order your copy of this photograph go to www.sidmouthherald.co.uk and click on Photo Orders

East Devon’s independent parliamentary candidate has pledged to support the region’s ‘lifeblood’ traders and businesses if she is elected in May.

Read more
Friday, March 27, 2015
Sidford Valley. Photo by Terry Ife ref shs 2244-39-12TI

Divisive plans for a 12-acre business park between Sidford and Sidbury look set to be scrapped after an eleventh-hour bid from Sid Valley representatives.

Read more
Thursday, March 26, 2015
Siblings Joseph and Hope Baker aged two and eight pictured at home this week after their seagull ordeals. Ref shs 0789-12-15SH. Picture: Simon Horn

Dad calls for fines after children’s ‘flying rodent’ terror

Read more
Thursday, March 26, 2015
Lily Thomas is raising money for the Menigitis Research Foundation.

A former Newton Poppleford primary pupil will be climbing to the peak of the world’s largest freestanding mountain to raise money for meningitis sufferers.

Read more
Thursday, March 26, 2015
Set in delightful grounds, the headquarters of EDDC at Knowle. Photo by Simon Horn. Ref shs 7658-15-12SH. To order your copy of this photograph go to www.sidmouthherald.co.uk

Controversial plans to sell Knowle to a developer and relocate the district council from Sidmouth have been given the final go-ahead.

Read more

Local Weather

Overcast

Overcast

max temp: 11°C

min temp: 9°C

Most Read News

Family notices
Advertise in the paper
Submit a Story
Submit a Story
Buy Photos
Competitions
iwitness24
Facebook
Twitter
Google Plus Page
Family Notices 24

Digital Edition

Image
Read the Sidmouth Herald e-edition today E-edition



Devon's trusted business finder