Diamond deal for jewellers’ store boss
THE future of a 30-year-old jewellers’ business in Lancaster has been secured, after its long-serving manager took ownership.
Stable End Curios will be handed over to Mark Ellis, who has worked at the city centre store for more than 10 years, following a funding deal with Yorkshire Bank.
Mario Sarchet, who previously owned the jewellers, is set to retire from the business.
Rather than sell the business on, Sarchet wanted to ensure it continued to operate in safe hands, and presented Ellis with a buyout opportunity which meant he only had to purchase the remaining stock in the shop and the business was transferred into his name.
The support package used to purchase the stock was delivered by Matt Anderton, relationship manager at Yorkshire Bank’s Business and Private Banking Centre in Preston.
First opening its doors in 1983, Stable End Curios has become a well-known establishment in Lancaster, specialising in everything from watches to diamonds, including repairs.
Ellis will continue to be supported by a team of three full-time and part-time staff.
Ellis said: “When Mario presented me with the offer to run the business, it was too much of an opportunity to turn down.
“I’ve been working with Mario as a senior manager for more than 18 years, 10 of them in Lancaster at Stable End Curios. I have come to know the customers and the area very well.
“It’s a new challenge but I’m looking forward to it. I aim to continue running the business as normal, and we’ll be getting additional new stock in for early 2016.
“Yorkshire Bank has been easy and flexible to work with, providing me with various options to move forward with the transfer of ownership and providing me with the facilities to manage finances on a day-to-day basis.”
Stewart Cook, head of Yorkshire Bank’s Business and Private Banking Centre, said: “Yorkshire Bank has worked with the company for more than 13 years, and we know Mark well so it’s great to be able play a role in supporting him as he takes over the running of Stable End Curios.
“We look forward to seeing how the business grows in the years to come and wish him all the best. As economic conditions continue to improve, Yorkshire Bank remains committed to supporting the growth ambitions of local businesses such as Stable End Curios.”
