A celebrated costumer jeweller to the stars has closed its retail doors in Mayfair after 32 years.
According to the Evening Standard, Butler & Wilson will shut its shop in South Molton Street, Mayfair, at the end of next month after trading at a loss for the past three years after it got “quieter and quieter”.
Founder and director, Simon Wilson, is said to have not made the decision lightly, but after the rent went up by 21% from £146,200 to £177,500 he was left with no choice.
Wilson will now concentrate his efforts on the flagship store in Fulham Road, the brand’s website and the QVC shopping channel.
The founder told the Evening Standard: “South Molton Street used to be amazing, there used to be all these fabulous shops packed with amazing customers but they are just not there anymore, it’s gradually just died.
“I love this store, I love the interaction with customers. It is actually more depressing that there is nobody in the street than not having the shop.”
Wilson says the slow down in trade started when Browns sold out to Farfetch. Now there are four of five empty units in the street.
Butler & Wilson was the last independent retail shop in South Molton.
“At least the lease is up and we can get out,” Wilson added in his conversation with the newspaper. “I would not want to be stuck here for another five years and working just to pay the landlord.”