PKF ADMINISTRATORS have made 46 redundancies at collapsed camera retailer Cecil Jacobs.
Eddie Kerr and Jim Stewart-Koster from PKF were appointed joint administrators to the UK’s largest independent camera retailer on 1 June.
The Leicester-based company has had to close seven of the 19 stores.
Kerr, partner at PKF, 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 that there are likely to be more challenges ahead.”
Manufacturer DMG Steelworkers has been sold out of administration in a pre-pack deal by insolvency and restructuring firm CVR Global
By threatening creditor returns, the government could undermine the UK’s World Bank insolvency ranking and cost creditors £8m a year, trade body R3 warms
Lee De’ath and Richard Toone, partners at CVR Global, were appointed joint-administrators of Lexden Centre (Oxford) Limited, trading as Colchester English Study Centre (CESC), on 29 June 2016
Peter Saville, Ryan Grant and Anne O’Keefe of AlixPartners will now become the supervisors of the CVA and monitor the implementation of the proposal