Walter Schofield was born circa 1855 in Dobcross. He married Eva Broadbent in 1876 and they had eight children. At the time of the 1911 Census, he was residing with his family at 222 Lockwood Road. He died on 27 December 1935, aged 81, leaving an estate valued at £2,861. The Yorkshire Post (28/Dec/1935) printed the following obituary:
Mr. Walter Schofield, of Taringa House, Victoria Road, Lockwood, Huddersfield, founder of Messrs. Walter Schofield, Ltd., loom repairers, died at his home yesterday. He was 81. A native of Saddleworth, Mr. Schofield came to Lockwood about 50 years ago. He was well-known locally as a temperance worker, and was at one time a vice-president of Huddersfield Temperance Society. Other associations for which he worked were Huddersfield Victoria Nurses Association, Lockwood Liberal Club, and Lockwood Cricket Club, of which he was a former president.
An invoice from September 1935 noted that the firm's telephone number was 342 and gave the following promotional notes:
The company went into liquidation in July 1969.