Wingate puts practice group up for sale

South coast-based practice group Melson Wingate is on the market because its chairman Nigel Wingate is planning his retirement.Mr Wingate, a well-known figure in the optical profession, has informed his staff that he is going to sell the group which has 40 branches nationwide, mainly along the south coast, but also as far north as Sheffield in Yorkshire and Heanor in Derbyshire. He told optician: ÔI have told my staff that I am proposing to retire and therefore there will be a change of ownership of business. There is nothing negative about this. The reason for the sale is entirely due to the fact I want to retire. It could be some time until it is sold, and until then Melson Wingate will continue as usual.ÕThe family-owned company Ð which has been in business for more than 100 years Ð has been in the news in the past few years. In 1997 it launched a new image at Optrafair, which led to the refitting of its practices to attract patients looking for high quality products and services. In 1999 the company was looking for a business partner to fund its future development. Companies rumoured to be interested included Rodenstock, Leightons and wrist-watch company Swatch. The project was abandoned six months later, after it failed to reach acceptable terms with a number of potential new business partners. There are believed to be several parties interested in the business but so far none has been named. Any potential buyers would probably have to sign a confidentiality agreement.