Luxury watch firm to close showrooms and cut jobs

The watch retailer opened 22 showrooms, refurbished 15 and acquired 15 through Ernest Jones last year

A luxury watch retailer has confirmed it will close 16 showrooms across the country and has put dozens of roles at risk.

The Watches of Switzerland Group - based at Carlton Park in King Edward Avenue, Leicestershire - said 40 people were expected to leave the business.

Where possible, affected staff at the company - which has 709 support service staff members - will be redeployed.

The company said its "priority [was] to support all affected colleagues".

It comes after the business, which has 155 showrooms across the UK, opened "one of the largest" Rolex boutiques in Europe in London earlier this month, a spokesperson said.

In the last reported financial year, the group opened 22 showrooms, refurbished 15 and acquired 15 through jewellers Ernest Jones.

A statement from the Watches of Switzerland Group said: "We continually assess our operations to remain as efficient and productive as possible.

"Whilst we intend to continue growing our showroom estate organically and by acquisition, following a recent review, we have regrettably made the difficult decision to close 16 showrooms in the UK.

"We have also reviewed our support services to ensure we are operating in the most efficient and productive way to power our retail growth and are regrettably proposing that circa 40 roles will be at risk of redundancy."

The firm has not yet said which showrooms will close.