Camera chain Jacobs shuts seven stores, axes jobs
June 8, 2012
The Jacobs store on Cannon Street, London is among the 12 surviving outlets up for sale (picture credit: Alexis Clarke). Also shown is the empty aftermath of stock clearance at one of the seven Jacobs stores which closed earlier today
The family-run business, which was founded in 1939, has made 46 people redundant out of a total of
Shutting up shop are the stores in Birmingham,
Chelsea, Derby, Hull, Kingston-upon-Thames, Liverpool and Sheffield.
The closures represent more than a third of Jacob’s 19-store estate.
Eddie Kerr, a partner at accountancy firm PKF who is acting as joint administrator, said: ‘We have taken the difficult decision to
close a number of Jacobs stores and make redundancies across the business.
‘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.’
Kerr added: ‘We have already had a number of expressions of
interest from potential acquirers and are in a position to begin negotiations.’
Among the shops to close is the Jacobs store in Hull, which
employs four staff in addition to a regional manager.
Earlier today, employees in Hull were told to collect their
Jacobs called in administrators amid unremitting
‘difficult trading conditions’, according to PKF.
One of the seven Jacobs stores which closed earlier today