Jessops goes into administration

Jessops: camera specialist goes into administration
Jessops: camera specialist goes into administration

Jessops, the photographic retailer, has today fallen into administration, marking the latest casualty to hit the nation's high-streets.

Jessops has 192 stores in the UK and employs around 2,000 staff. The camera retailer has in recent years been hit by increased competition from internet retailers and supermarkets. Its demise marks the first high-street casualty of 2013. PricewaterHouseCoopers (PwC) has been appointed as the administrator.

Rob Hunt, joint administrator and partner at PwC, told the BBC: "Out most pressing task is to review the company’s financial position and hold discussions with its principal stakeholders to see if the business can be preserved.

"Trading in the stores is hoped to continue today but is critically dependant on these ongoing discussions. However, in the current economic climate it is inevitable that there will be store closures."

Jessops demise follows that of Peacocks, the value fashion chain, Blacks Leisure, the outdoor goods specialist, video games retailers Game Group and Clinton Cards, the greetings card retailer.

Jessops was not available to comment.

Discussion

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus
Brand Republic Jobs

subscribe now

Latest

Duracell short film captures epic Transatlantic voyage
ASH runs Tinder experiment to show smokers are less desirable to opposite sex
British Airways teams up with Gerry Cottle Jnr for summer of rooftop film screenings
Arklu says 'girls can be superheroes too' with doll design competition
Coke enters squash market with Oasis Mighty Drops
Virgin Galactic signs up Land Rover as space flight sponsor
Motorola marketer Andrew Morley departs as Google gears up for sale to Lenovo
US Airways apologises after tweeting obscene image at a customer
Mumsnet admits users' emails and passwords accessed via Heartbleed bug
Thetrainline.com backs 'rubbish' mobile app with TV ad
Powerade launches global World Cup campaign
Burberry's flagship Shanghai store facade responds to weather changes
Subway considers taking fast food to fast lane with F1 sponsorship
Ikea splurges 'grey' Belgium with colour
Grim outlook for Tesco boss Philip Clarke ahead of expected profits fall
Thomson to create first crowd-sourced wedding decided by Facebook fans
Currency wars meets origami in Alpari FX trading ad campaign
Amazon rumoured to launch 3D smartphone in September
Facebook to allow European users to store and transfer money on site, claims report
Unilever pilots multi-brand advertising with YouTube beauty channel
Lego, Coca-Cola, Net-a-Porter, Bitcoin and AOL: the digitally creative brands
Dove tries to tell women their beauty is innate through placebo patches
Wonga faces social media storm after forcing Twitter to remove satirical material
Spotify tells the stories of relationships with music
Skype contrasts real stories with 'saccharine' style of Google and Apple
Top 100 UK advertisers: BSkyB increases lead as P&G, BT and Unilever reduce adspend
Viral Review: One Direction perfume 'prankvert' should have been a bigger hit
German beer brand Warsteiner tells drinkers to 'do it right'
SSE signs 10 year deal to sponsor Wembley Arena
Co-op bank posts losses of £1.3bn and expects no profits for two years