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PKF confirms store closures at Jacobs Cameras 12 June 2012

Seven stores of Cecil Jacobs Ltd (trading as Jacobs Cameras) have been confirmed today by administrators at PKF Accountants.

The Leicestershire-based company which was placed into administration at the start of June will witness store closures in Birmingham, London, Derby, Hull, Kingston-Upon-Thames, Liverpool and Sheffield.

Some 46 staff have been told they will be made redundant as a result of the store closures deemed necessary by insolvency practitioners at PKF.

Eddie Kerr, partner at PKF Accountants & Business Advisers, said it was a difficult decision to close the stores as a result of a comprehensive review of the retail group.

He explained: “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 there are likely to be more challenges ahead.

“We have already had a number of expressions of interest from potential acquirers and are in a position to begin negotiations.”

 

 

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