The UK's largest independent camera retailer, Cecil Jacobs, collapsed into administration today, jeopardising more than 150 jobs.
The family-run firm, which was more 70 years old and ran a chain of 19 stores from its base in Leicester, is the latest victim of the squeeze on the high street.
Administrators at PKF said they will carry on running the business, which employs 154 staff, while they seek a buyer.
Joint-administrator Eddie Kerr said: "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 ongoing economic slowdown."