DEAL RESCUES STANLEY GIBBONS AND BALDWIN'S

 

Stamp and coin dealership group Stanley Gibbons Group has been rescued from administration in a buy-out deal with owner Phoenix Asset Management.

Stanley Gibbons Group, which also owns coin specialist Baldwin's (AH Baldwin & Sons), will continue to trade as normal and its 66 staff have also been taken on by the new entity, called Strand Collectibles Group.

It is believed that the administration was largely caused by growing debt, following its purchase of a British Guiana 1c Magenta stamp for a hammer price of $7m (£4.97m) or ($8.3m including premium) in 2021. The purchase was funded by debt from Phoenix but a scheme to sell ‘fractional shares' to investors did not reap the desired amount. Its debt reached £20m and the firm continued to make an annual loss of more than £2m.

Tom Pickford, CEO at the newly formed Strand Collectibles Group, said: Despite strong growth in auctions this year and new partnerships in publications, Stanley Gibbons Group has been unable to find a solution to its long-standing historic liabilities which includes legacy acquisitions, leases and debt. The group explored all options to resolve these liabilities however it was unable to find a satisfactory solution."

Pickford said the group will continue to operate from 399 Strand in London across stamps, coins, medals and other collectables and has secured new investment to develop these services further.

To read the complete article, see:
Stanley Gibbons and Baldwin's rescued in an administration deal (https://www.antiquestradegazette.com/news/2023/stanley-gibbons-and-baldwin-s-rescued-in-an-administration-deal/)

As a new year starts so does a new chapter for Baldwin's and Stanley Gibbons as both brands are acquired by Strand Collectibles Group.

Baldwin's, already a global name in numismatics, will now broaden our horizons to encompass all collectibles auctions, including coins, medals, stamps, trading cards, comic books, video games, sports memorabilia and more in the coming years curated by our in house experts including the Baldwin's Coins & Stanley Gibbons specialists you will know so well. The schedule for the coming months, led by Iain Murphy, Managing Director of Baldwin's Auctions already boasts some exceptional philatelic, numismatic and pop culture auctions, setting a pace we expect to see increase further still throughout the year.

To support new and existing auction categories we have recently unveiled our brand new platform www.baldwins.co, (note: the new domain is .co not .co.uk or .com) designed and built by our team based on your feedback to bring the joy of collecting to the auction experience.

Neil Paisley, MD Baldwin's Coins, and the team will continue to buy and sell rare British, ancient and world coins. They will be at the New York International Numismatic Convention next week and the York Stamp & Coin Fair later in the month.

I am conscious that we bear huge responsibility as the stewards of these storied organisations. Honouring the past while creating a rich and sustainable legacy is our goal here – not least because that is how we may offer the very best care and attention to detail for collectors acquiring, or parting with, treasured possessions.

By harnessing the heritage and the unique expertise from both brands, I'm confident your experience will feel both reassuringly familiar and significantly enhanced.

To visit the Baldwin's Coins, see:
https://baldwins.co/en-GB/departments/coins

	NBS (coinbooks.org) Web