Cecil Jacobs in administration
Founded 70 years ago, the company is the UK’s largest independent camera retailer, operating 19 stores across the UK. However, the business has been hit by the downturn in consumer spending and has also faced tough competition from online camera retailers.
Administrators PKF have confirmed that they will continue to run the business as a going concern while they seek a buyer but have not ruled out some store closures.
Joint administrator Eddie Kerr said: "It's desperately sad to see a family-run business such as Cecil Jacobs encounter problems."
He added: "The company has a rich heritage and loyal customer base, but this has not been enough to see it through the ongoing economic slowdown."
The Leicester-based business, which employs 154 staff, has three stores in London, two in Leicester as well as stores in Sheffield, Nottingham, Newcastle, Manchester, Liverpool, Leeds, Kingston-upon-Thames, Glasgow, Hull, Edinburgh, Derby, Cardiff, Bristol and Birmingham.
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