Jessops issues

Vitaliy_Kiselev

The UK's biggest high-street camera retailer, Jessops, has gone into administration, putting 192 stores and 2,000 jobs at risk. The company's website is not accepting orders and administrator PricewaterhouseCoopers has said vouchers and returns would not be honoured at present. The company, that has been slow to respond to competition from internet retailers, was rescued in 2009 by HSBC, which bought into the company in return for writing off some of its debts. However, increasingly stringent credit terms imposed by suppliers (a common move when there is doubt surrounding the future of a company), and predictions of further falls in camera sales led to the administrators being called

Via: http://www.dpreview.com/news/2013/01/09/Jessops-Britains-biggest-camera-store-enters-administration

See also:

andyharris

For me Jessops of Newbury was a good shop, with matching Internet Pricing and good service -- I'll miss them a bit.

arknox

Every Jessops I've ever been in the staff have been pushy idiot sales people that know nothing and the prices were way above reasonable. Not surprised to see them go under and won't miss them one bit.

Vitaliy_Kiselev

Administrator PricewaterhouseCoopers (PwC), appointed this week, said the doors had been closed for the last time on all 187 stores in the UK.

More jobs would be lost at the head office in Leicester, it added.

Via: http://www.bbc.co.uk/news/business-20992125

Vitaliy_Kiselev

The owner of camera chain Jessops, Dragons Den star Peter Jones, plans to call in administrators to help salvage the struggling High Street brand.

Mr Jones bought the chain from administrators in 2013 after it collapsed under £81m of debt.

But since then, the firm, which has 46 shops, has not made a single profit and losses have mounted in recent years.

Last year alone, the business, which employs 500 people, saw its rent costs increase to £4.7m. Lease charges, which include rent on stores, increased from £4.4m in 2017.

https://www.bbc.com/news/business-50066623

Howdy, Stranger!

Categories

Tags in Topic

Top Posters