WatchPro.com has confirmed that high street watch and shoe repair mainstay Timpson is in the process of shutting down its luxury watch repair business only launched last June.
The Time division of Timpson was founded in Manchester last summer to take on the servicing and repair of luxury, mechanical watches.
Gouy Hamilton-Fisher, director of colleagues and support at Timpson, told WatchPro.com that the company had taken on a 25-strong team to staff the new business. Hamilton-Fisher went on to say that the business volume of business expected had not materialised and the decision had been made to close the new venture.
Since the news was broken to staff, 12 have gone on to find alternative employment, meaning when the business finally closes on March 27th, it is expected that 13 people will be made redundant.
As Timpson Group is a privately owned business Hamilton Fisher was not prepared to discuss the nature of the investment required to launch the Time business.
Timpson carries out battery and strap replacements from its 1,600 kiosks nationwide with five Watch Workshop branches across the country carrying out dedicated watch servicing and repairs.