Teenage horse riding volunteer left heartbroken after losing savings as 119-year-old Epsom business Lester Bowden goes into administration

Rebecca Watkinson, a volunteer at a charity that looks after horses no longer able to race, had put half of what she had raised through a weekly paper round – £411.50 – into an account with Lester Bowden.

She had hoped to buy a full set of riding gear from the company, and had already bought her boots and hat from the 119-year-old retailer based in Spread Eagle Walk, Epsom.

But the company went into administration on April 11, before being taken over by Stevensons, an independent school uniform and sportswear provider, a week later.

This has left Lester Bowden’s creditors and accounts holders – including Greenshaw High School student Rebecca – out of pocket.

Rebecca (right) comforted by mum Helen Watkinson

Her father, Ian, a computer solutions architect from Ferriers Way, Tattenham Corner, is at a loss as to how to explain to his daughter how and why her year-and-a-half of savings have vanished. He believes Stevenson’s have a “moral obligation” to help put things right.

But John Stevenson, a director at the company, says it has no legal obligation to reimburse Lester Bowden’s creditors, and to do so would see it “spiral into bigger debts”.

He added that the takeover had allowed schools to still be served by a local family business and 50 members of staff to keep their jobs.

But Mr Watkinson, who has had an account with Lester Bowden for “many years” said that Stevensons needed to do more.

“We are just asking for a gesture, but they aren’t prepared to do anything.

“Legally, are they right? Yes. But morally? No. There is a moral obligation to do something.”

He added: “It is still in the shop. She can see it in the window.

“As a father I try to do the right thing and not just buy it, and avoid instant gratification.

“But she has been told she has lost 18 months’ worth of savings, and I don’t know how to explain that.”

Mr Stevenson explained that his company had purchased Lester Bowden but not its debt, and that the company had a “long list of creditors” ahead of Mr Watkinson.

“He thinks we are being unscrupulous, but we are doing everything, legally, we have to do,” he said.

“Morally, I understand where he’s coming from, but we don’t have to do anything.

“From a commercial point of view, we wouldn’t have bought (Lester Bowden) if we did take on the debts. That would just spiral into bigger debts.”

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