Wed, 22 Aug 2012 | ADMINISTRATION
Cameras stock from failed photographic retailer Cecil Jacobs is being auctioned off to help pay the company's debts.
The business went into administration earlier this year after a drop in trade saw its profits fall. The 73-year-old business closed its 19 stores and around 150 jobs were lost.
However, now other companies have the chance to benefit from the sell-off of its stock at an online auction. With more than £1 million of debts to pay down, the administrators will be hoping to generate a healthy return on the sale of the equipment, which is valued at around £500,000.
Mike Hanson, auctioneer with Jones Lang LaSalle in Nottingham, told the Leicester Mercury: "It's never good to see an established family-run company go out of business, especially when jobs are lost.
"But we're confident of realising a substantial amount from the sale of a wide range of high-quality electronic products."
He added that there were a number of factors working against the company pushing it into administration but noted that the auctioneers are "braced for substantial interest throughout the five-day online auction and would expect to sell the vast majority of lots on offer, to both domestic and foreign buyers".
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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