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Buyers Snap Up Jacobs’ Stock

Nottingham, 25th September 2012 – Jones Lang LaSalle’s online auction of the stock of Cecil Jacobs Ltd has raised more than half a million pounds. 

More than 2,200 lots of branded and non-branded stock were offered to buyers on the firm’s website, on behalf of joint administrators Edward Kerr and James Stewart-Koster of PKF LLP.

The five day auction saw more than 228,000 hits on the Jones Lang LaSalle website, the largest response the company has witnessed since they launched the online auction platform in 2008.

There was huge interest in the Leicester based camera specialist’s stock, with more than 2,600 bidders competing for a variety of SLR and digital cameras and lenses from retailers such as Sony, Panasonic, Leica and Sigma.
The highest value individual sale was that of a Leica M9 camera which was purchased for £3,588.

All items were purchased by UK bidders with the quality and range of the stock believed to be two of the factors behind the sale’s popularity.
Family run Cecil Jacobs, founded in 1939, went into administration on the 1 June, resulting in 158 job losses.
It had had operated 19 UK stores under the Jacobs brand, including branches in London, Leicester, Nottingham, Manchester, Glasgow, Edinburgh and Birmingham.

Mike Hanson, director of machinery and business assets at Jones Lang LaSalle’s Nottingham office said he was pleased by the substantial interest shown in the auction.
Mr Hanson said: “We’re now into our fifth year of online auctions and this sale has drummed up by far the most interest. Buyers knew the provenance of the stock and I believe this encouraged a record number of bidders to come forward.

“It’s never good to see an established family-run company go out of business, especially when jobs are lost, but we are pleased that buyers throughout the UK will now be able to make the most of the stock on offer.”

He concluded: “There is no doubt that running the five day auction online substantially boosted the interest in the sale.”​