davieG Posted 2 June 2012 Posted 2 June 2012 Merc More than 150 jobs are in jeopardy after the UK's biggest independent camera chain hit financialproblems. Cecil Jacobs, which has its headquarters at Meridian Business Park, Braunstone, went into administration yesterday after a slump in trade. The company has 19 stores across the country, selling cameras and photography equipment. It employs 154 people, including about 30 in Leicestershire. All shops, including outlets in Granby Street and London Road, Leicester, will continue to trade while a buyer is sought. Joint administrator Eddie Kerr, of Leicester accountants PKF, said the business – owned by the Jacobs family – had been hit by falling sales. "It's seen difficult trading conditions for a while, which has caused cashflow difficulties," he said. "The family have decided the business model isn't working any more and have decided to call it a day. "They are very disappointed, but have handled it well. It's desperately sad to see a family run business such as Cecil Jacobs encounter problems. "The company has a rich heritage and loyal customer base, but this has not been enough to see it through the slowdown. "Our plan is to keep the business running in the short-term and undertake an immediate review of the company's estate, with a view to finding a buyer, if possible." According to the latest available accounts at Companies' House, Cecil Jacobs made a profit after tax of £109,000 on a turnover of £28.24 million in the year to January 31, 2011. In 2008, Jacobs launched stores in Chelsea and Westminster. Speaking at the time, business development manager Elliott Jacobs said he was confident it could increase sales across the group. Jacobs was founded in Melton Road, Leicester, in 1939, four years after rival Jessops. Jessops, which has more than 200 stores, has also experienced financial problems. In 2009, bosses saved the company from going under after securing a deal with HSBC which saw the bank take a 47 per cent stake in return for writing off a big chunk of its debt.
Rincewind Posted 2 June 2012 Posted 2 June 2012 Well I can tear my application for a job at Jacobs up.
Zingari Posted 2 June 2012 Posted 2 June 2012 Not surprising really . It looks like they sell crap cameras that don’t focus properly !
Trav Le Bleu Posted 2 June 2012 Posted 2 June 2012 Not surprising really . It looks like they sell crap cameras that don’t focus properly ! People on Granby Street are really fast.
Zingari Posted 2 June 2012 Posted 2 June 2012 People on Granby Street are really fast. Ahh that's the problem , maybe they should relocate to a street where people walk slower and they might notice the stuff in the shop
Trav Le Bleu Posted 2 June 2012 Posted 2 June 2012 I suppose though, if you're on Granby St, you want to get off it pretty fast.
Rincewind Posted 2 June 2012 Posted 2 June 2012 For the people that can't walk to the one on the opposite side of the road?
Soar Fox Posted 2 June 2012 Posted 2 June 2012 For the people that can't walk to the one on the opposite side of the road? No. For the people who can't walk to the one at the top of belvoir street.
Phube Posted 2 June 2012 Posted 2 June 2012 Maybe if they didn't sell SD cards at 5x their Amazon price!
Rincewind Posted 2 June 2012 Posted 2 June 2012 Thought there was a Tesco on Granby Street. There is alson one just by the station.
Thracian Posted 3 June 2012 Posted 3 June 2012 Merc More than 150 jobs are in jeopardy after the UK's biggest independent camera chain hit financialproblems. Cecil Jacobs, which has its headquarters at Meridian Business Park, Braunstone, went into administration yesterday after a slump in trade. The company has 19 stores across the country, selling cameras and photography equipment. It employs 154 people, including about 30 in Leicestershire. All shops, including outlets in Granby Street and London Road, Leicester, will continue to trade while a buyer is sought. Joint administrator Eddie Kerr, of Leicester accountants PKF, said the business – owned by the Jacobs family – had been hit by falling sales. "It's seen difficult trading conditions for a while, which has caused cashflow difficulties," he said. "The family have decided the business model isn't working any more and have decided to call it a day. "They are very disappointed, but have handled it well. It's desperately sad to see a family run business such as Cecil Jacobs encounter problems. "The company has a rich heritage and loyal customer base, but this has not been enough to see it through the slowdown. "Our plan is to keep the business running in the short-term and undertake an immediate review of the company's estate, with a view to finding a buyer, if possible." According to the latest available accounts at Companies' House, Cecil Jacobs made a profit after tax of £109,000 on a turnover of £28.24 million in the year to January 31, 2011. In 2008, Jacobs launched stores in Chelsea and Westminster. Speaking at the time, business development manager Elliott Jacobs said he was confident it could increase sales across the group. Jacobs was founded in Melton Road, Leicester, in 1939, four years after rival Jessops. Jessops, which has more than 200 stores, has also experienced financial problems. In 2009, bosses saved the company from going under after securing a deal with HSBC which saw the bank take a 47 per cent stake in return for writing off a big chunk of its debt. And I wonder how much compensation Leicester City Council gave them for closing the major approach road to their shop for months on end? Or to the countless other businesses devastated by that action and, now, the closure of the road by the Town Hall for weeks and the ongoing improvement works at Leicester station. Businesses might battle against competition but they sure find it hard to cope with the impact of the Council and the landlords.
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