Following the safety deposit robbery in Berlin in November last year that lost Watchmaster ICP GMBH £12m worth of watches, many of which were on consignment to Watchmaster from their owners, its UK subsidiary has now been forced to cease trading due to lack of funds.
Watchmaster had been looking for a buyer to take the company on as a going concern, but after several failed deals they were forced to accept that they would have to close.
With no funds available to pay for the return of the consignment watches, however, customers were going to be stuck in legal limbo, potentially for months, before they might get their watches back – and getting them back was by no means guaranteed as the Administrators would have been able to apply for a court order that would give them the right to sell some of the watches to finance the return of the remainder, with no recompense to the owner!
Enter BQ Watches! We have secured the rights to enter into discussions with every consignor to either take over the consignment, or return their watch to them, protecting over 1,400 individuals from uncertainty and potential loss.
All Watchmaster consignors’ watches that have not yet been returned are securely stored in our vault, and we are working through the list to contact each and every customer. If you were a Watchmaster customer and wish to discuss your watch, then please call us on 01923 85 58 58, or email us at info@bqwatches.com
