Owners of stunning and popular historic shop reveal reasons behind plans to sell
A landmark historic Ludlow shop has been put up for sale with its owners revealing the "difficult decision" is due to "significant changes" in the economic landscape.
The owners of Bodenhams, on Broad Street in Ludlow, confirmed the move in a post shared on social media.
The shop is hugely popular and is based in an "extraordinary" 600-year-old Grade II listed building.
Its owners Roger and Monika Curry took over the business in 2018 – and said increased interest rates on the loan they had taken out to buy the building had played a big part in the decision to sell.
They said the rising costs leave "little room" to pay for the upkeep of the historic building, adding that they are "unwilling to witness the gradual deterioration of this historical landmark due to financial constraints".
In their message to customers they said the business was continuing to operate "as usual" and "is very much a profitable business".
But, they admitted that its future will "depend on the intentions of the potential purchaser".
In the message announcing the decision Monika said: "In 2018, we took over Bodenhams, along with its extraordinary 600-year-old Grade II listed building, following the passing of Roger’s mother, Muriel Curry.
"This decision stemmed from our deep connection to the business, with Roger’s 20-year dedication alongside his mother and my own 15 years of involvement."
The couple added: "It felt like a natural progression for us, and it was the only way to keep Bodenhams going, as other family members were not inclined to continue its legacy.
"To secure the acquisition, we relied on a significant bank loan. At the time, with historically low interest rates, the repayments were manageable compared to potential third-party ownership (and the extortionate commercial rent rates).
"However, as we find ourselves in 2024, the economic landscape has undergone significant changes.
"While our fondness for the building remains unchanged, we understand our responsibility as custodians to ensure its preservation for future generations.
"The increased interest burden on our current loan leaves us with little room to allocate funds for necessary maintenance and future investments.
"We are unwilling to witness the gradual deterioration of this historical landmark due to financial constraints, a fate that has befallen other local historical buildings.
"In light of this, we have made the difficult decision to list the building for sale. The impact on our business remains uncertain and will depend on the intentions of the potential purchaser.
"In the meantime, Bodenhams continues to operate as usual; it is very much a profitable business (although we do feel the pressure of the escalating costs in the current climate, like most businesses).
"We are already making appointments for stock orders for Spring/Summer 2025, underlining our commitment to providing our customers with the quality collections they have come to expect each season.
"It’s a running train, which doesn’t just stop with a press of a button. We have ongoing commitments to our suppliers and long-serving staff. When and if anything changes, we will make an appropriate announcement in due course."
