Mon, 11 Jun 2012 | ADMINISTRATION
Administrators from PKF are looking to sell retail camera specialist Cecil Jacobs Ltd after it was placed into administration recently.
Seven of its 19 shops have been shut down by the administrators, leaving 46 staff newly unemployed. These closed stores are located in Hull, Birmingham, Chelsea, Derby, Kingston-upon-Thames, Sheffield and Liverpool.
The move to shut down the stores was to facilitate finding a new owner said Eddie Kerr of PKF.
“We have taken the difficult decision to close a number of Jacobs stores and make redundancies across the business.”
He continued, “These measures are painful for everyone involved but they are essential if we are to have a reasonable prospect of finding a buyer for the business as a going concern, although we recognise that there are likely to be more challenges ahead.”
The family-run firm was founded in 1939 in Leicester, four years after Jessops started out, and is the largest independent camera retailer in Britain.
It sells a large range of digital SLRs, digital cameras, photographic equipment from its shops and website. Its business clients, according to its website, include the Police, picture agencies, the press, government departments and schools.
Cecil Jacobs last recorded revenues of £28.24 million for the year ending 31 January 2011, with profits of £109,000 after tax.
Operating across North Yorkshire, the company has two divisions, one that provides IT infrastructure and one offering renewable energy solutions, including solar PV systems and electric vehicle charging points.
The group specialises in supplying and installing UPVC windows, doors and conservatories in a wide array of styles. Bespoke bathroom panelling and high-quality guttering products are also provided by the two companies.
The company is a well-regarded specialist provider of hygienic wall, floor, and ceiling cladding systems. To complement its core supply of PVC cladding, the business offers hot welded joints to prevent the build-up of bacteria and can supply stainles...
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