Suit you, sir? Scunthorpe firm auctioning designer gear 'for perhaps a third of High Street cost'
Top designer menswear is to go under the hammer in Scunthorpe next week
Well over £100,000 worth of top designer gear will be available following the decision of one of the region’s most up-market stores to call it a day.
James Wright Menswear, Hull’s only stockist of some of the most exclusive and expensive labels in men’s fashion, closed its doors for the final time six weeks ago.
It was the end of the line for a business that started in the mid-1970s in a small workshop above a shop where tailor James Wright made suits and carried out clothing alterations for many large stores.
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As the menswear market changed, the business successfully made the switch into high-end designer fashion, becoming an outlet for by the likes of Hugo Boss, Pal Zileri, Vilebrequin and others.
Now 66, Mr Wright is retiring. He made the decision to simply close the business down after negotiations to sell it collapsed when the potential buyers were unable to raise the finance in the current economic climate.
Now the entire remaining stock of the business - from £250 sweaters to thousand pounds suits - has been moved to Scunthorpe where CJM Auctioneers are to put it under the hammer in an online auction next Tuesday (March 12th ).
CJM director Paul Cooper said: “It is very sad that the business is disappearing but it is the way that things are at the moment.
"Ten years ago the retirement of the owner of a successful niche business like this would have produced a queue of people wanting to buy it and have a go.”
“However, in the present climate it is very difficult to secure the funding, particularly to bid for retail businesses.”
Paul added: “James Wright Menswear really did operate at the top end of the business.
"It was the only store in the area permitted to stock the full Hugo Boss range and we’ve been sent a number of Boss suits that retailed for £600-£700 a time. We’ve also got suits by Pal Zileri that were even more expensive. Some of them had price tags of over a thousand pounds.”
“The auction also includes top-name jackets, trousers and jeans as well as knitwear and shoes.
“The retail price tags in the designer fashion world are pretty eye-watering - cashmere sweaters by Pal Zileri or Gran Sasso are usually going to set you back anything up to £250, as will Boss loafers and lace-ups by the leading brands.”
“Even we were slightly surprised by the price tags on Vilebrequin swimming shorts - £189 a pair for men and £79 a time for the children’s version.”
“The good news for potential bidders is that auction values will be considerably less.
"Ordinarily you would expect retail stock to make around 10% of shop prices. Because of the quality and the designer names involved in this auction the results will be higher but we are still expecting things to go for perhaps a third of High Street cost.
"There will be some bargains."
The online auction is scheduled to close at 6pm on Tuesday, March 12.
The public viewing sessions for the sale are to take place on Friday (8th) 1pm-5pm, Saturday (9th) 10am-1pm, and Monday (11th) 10am-5pm.
The auction catalogue and sale details are available at www.cjm-asset.com and www.BidSpotter.co.uk
CJM is based on Dunlop Way, off Brigg Road, Scunthorpe.