Statement as UK jewellers in administration amid £189K debts

The owners of John Gowing Jewellers Ltd, a shop based at the iconic Oxford Covered Market in operation since 1946, has made clear that the business is not closing after it went into administration.

A spokesperson said: “The recent corporate change relates to the former operating company as part of our corporate re-structuring and does not represent the closure of John Gowing Jewellers.

“Our Covered Market store remains open and is trading as normal, with our existing team continuing to serve customers.”

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The shop is an independent, family-run jeweller and watch specialist that also offers valuations, diamond accessories and repairs.

As of July 28, administrators from Begbies Traynor have been appointed to the company with a notice to strike the business off having been published on Companies House.

The notice was dated for August 4 and said that unless an objection was raised the company would be struck off the register in two months.

In its latest accounts for the 12 months to June 13, 2025, it reported creditors falling within a year of £188,705 as well as an average number of four employees.

John Gowing, who runs John Gowing jewellers in the Covered Market

The spokesperson for the business added that the recent “corporate change” has come about following new owners being appointed.

Indeed, in June 2025 John and Ann Gowing resigned as directors of the company and were replaced by Prasanna Perera according to Companies House.

The spokesperson said: “There has been no interruption to our watch, jewellery, repair or valuation services.

“Under new ownership, additional investment is supporting the next stage of the business.

“Our focus is to preserve the heritage, expertise and trusted local service John Gowing has built in Oxford since 1946, while strengthening the brand and creating opportunities for future growth.”

That the shop is not closing will be a relief for the Covered Market, which is a tourist hotspot and first opened in 1774.

Other companies at the historic venue have struggled in recent times including The Oxford Cheese Company, which said it was in “survival mode” earlier this year.

A spokesperson for the Oxford Cheese Company explained: “We’ve survived Covid, the Jesus College conversion, which virtually closed access to Market Street from Cornmarket, (no apologies or any compensation from the college), and the pedestrianisation of Market Street just recently.

John Gowing Jewellers (Image: Supplied)

“All of the above were beyond our control and meant resilience from our staff and our customers.”

Four years ago John Gowing Jewellery celebrated 75 years in operation.

At the time Mr Gowing – who was running the shop with his wife – was 66 years old and was celebrating half a century in the business with no plans to retire.

In addition he was hopeful about the future prospects of the market.

Speaking in the months after the Covid-19 pandemic, he said: “I do feel that the city council (the landlord of the Covered Market) has its heart in the right place and wants it to do well.

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“There are a number of empty units but at the same time there are plans for those units to be filled – I think four new businesses are currently being lined up to take over different units.”

There have been several break-ins at the shop in recent times including in 2018 when thieves reportedly took several rings and earlier that year when a topless man stole a Rolex watch.

In addition one man was jailed for almost five years for his part in an attempted robbery at the jewellers in 2013. His accomplice died after he collapsed.