Wednesday, 21 May 2008
Litt’s loss will leave a huge mark on the industry, but how will small shops fare?
Gunshops are waiting anxiously to discover the full effect of one of the UK’s largest gun retailers, D. J. Litt’s, going into administration. The reaction from retailers has been mixed, but many expressed concern about the future. Chris Potter, of Chris Potter Guns in Kent, told ST: “I think there is still a lot more to come out of the woodwork. I have never seen anything like this before we are talking serious sums of money. I think trade for the smaller retailers will be quiet for six months, but we could be in a position to benefit from this thereafter.”
Adrian Brown, of A. Brown Sporting Guns in Cumbria, said: “I think it is too early to speculate on what impact this will have. But it is bound to have a knock-on effect.” Mark Osborne, who recently bought gunmaker William Powell, commented that the news did not come as a great surprise to the industry: “The recent IWA trade fair in Nuremburg was awash with rumours. Everyone was questioning how financially viable Litt’s was. In today’s economic climate, it is inevitable that there will be more casualties within the gun trade.”
Deloitte has now set up a dedicated customer hotline. If you have any queries, tel 07876 664035.
The rest of this article appears in 22 May issue of Shooting Times.
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