LCE Cheltenham - Closed Down

Sadly the Cheltenham branch of LCE has now closed down - I spent many a lunchtime in there chatting to a great bunch of guys who were very knowledgeable and friendly, they stopped selling Pentax quite a while ago but often had the odd Used Pentax item. I hope they all manage to find alternative employment

Was that Dave's shop?

He used to be a Pentax user many years ago and posted here a few times (did me some very good deals as well)

Don't remember a Dave :

Got that wrong, it was Colchester.

Isn't LCE an employee owned company. I wonder if the staff decided the branch was not paying it's way

I imagine what with rent increases, fuel costs and the cost of living crisis most shops would be wondering if it's worth the hassle.

No, I'm pretty certain it's not - I think they were pretty successful but as Mike has pointed out their costs have been increasing, the location of the Cheltenham branch was on the Promenade at the High street end - probably wouldn't find a better location.


The building is one of the old Cheltenham Promenade beauties, I suspect the rent increase would have been a contributory factor

Hmmm - interesting wording, I could be wrong but I think "Employee owned" might refer to a small number of people who were formerly employees - But I'm happy to be wrong! I'd like to see more businesses owned by the employees, I like the John Lewis/Waitrose model (even if they are going through some tough times) - from my experience there are many aspects of their staff treatment that are so much better than many other retailers

Can't be sure, of course, but it might well be via an Employee Ownership Trust by means of which Trustees, appointed by employees, hold the majority of shares in the company for the benefit of employees. The Trustees do not manage the company but management is responsible to the Trustees (as shareholders) for how it manages the company. They have been around for about 10 years and are promoted as a way by which the owners of a company (typically its founders) can ensure that it lives on after them with the same ethos and values. Richer Sounds, the audio-visual retailer, went this way four years ago.

Steve

My closest LCE in Worcester stopped carrying Pentax equipment a few years ago. My past purchase was the DFA 100 WR. I miss being able to go to a shop.

My dad used to buy lots of used gear from Cheltenham LCE back in the 70's and 80's. Of course there was also Will R Rose in those days more or less opposite...

I believe the LCE in Salisbury where I used to live has also closed, again in a prime location but probably due to rents and rates being high. You need to sell a lot of stuff at decent margin these days to cover those overheads.

The one in chesterfield closed quite a few years ago
Was in a prime location
Neil