From Yahoo Finance: 2025-04-14 05:11:00

Luxury watches retailer Watches of Switzerland is set to close 16 UK showrooms, risking approximately 40 jobs. The company plans to reassign staff where possible but has made the difficult decision to streamline operations. The specific locations of the affected showrooms have not been disclosed.

Despite the closures, Watches of Switzerland remains committed to its workforce and aims to support all affected colleagues. The company recently expanded with 22 new showrooms, renovated 15, and acquired 15 through the purchase of jeweller Ernest Jones. The retailer operates 155 UK showrooms and maintains a total of 217 across the UK, US, and Europe.

Watches of Switzerland Group, headquartered in Leicestershire, reported satisfactory holiday season performance in the UK and US markets. The company’s third-quarter fiscal year 2025 results met expectations, boosting confidence in achieving financial targets for the year. The closure of the UK showrooms is part of the company’s strategy to operate efficiently and sustain growth.

Read more: Watches of Switzerland to shut 16 UK stores, risking 40 jobs