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".
A well-established UK distributor renowned for high-quality bicycle components and accessories, serving both retail and trade customers nationwide, is available for acquisition.
This well-established specialist glazing business in Derbyshire boasts over 30 years of success, supported by a well-presented showroom and ample storage.
This well-established car sales and garage business in Nottinghamshire offers a superb reputation supported by positive online reviews and occupies a prominent position on a main road in Worksop.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.