Photo chain Jessops in administration, it is confirmed

Jessops logo
Could Jessops be the next high street retail casualty?

Update 11/01/2013: Nikon has assured any Jessops customers who have purchased Nikon goods from the store will have their Jessops Photo+ extended warranty scheme honoured. Nikon plans to undertake all outstanding repairs as quickly as possible and will contact customers directly regarding repairs.

Update: PricewaterhouseCooper has been confirmed as the administrator for Jessops, according to Tweets from Retail Week editor George MacDonald. Vouchers will no longer be accepted in stores while the administrators hold talks with stakeholders to see if the business can be saved. Although trading will continue in stores, several closures are anticipated.

More than 200 stores are owned by Jessops in the UK, which announced earlier in the week that several would be closing after not meeting sales targets.

It's been a difficult few years for the chain, which was founded in 1935 in Leicester. Fighting increased competition from cheaper online stores, Jessops has tried several tactics including changing store layouts and offering unique printing and studio photography services.

Back in 2009 it avoided administration by securing a debt for equity swap with HSBC.


It's also thought that the rise in the popularity of cameraphones has made a significant dent in the profits of Jessops, which sells a large number of compact cameras.

Last year, chief executive Trevor Moore quit after three years in the top job to work for HMV.The company reported a £5.2m loss in 2012.

It's reported that PricewaterhouseCoopers will be appointed as the administrator for the retailer. Stay tuned for more updates as they happen.

via Telegraph

Amy Davies

Amy has been writing about cameras, photography and associated tech since 2009. Amy was once part of the photography testing team for Future Publishing working across TechRadar, Digital Camera, PhotoPlus, N Photo and Photography Week. For her photography, she has won awards and has been exhibited. She often partakes in unusual projects - including one intense year where she used a different camera every single day. Amy is currently the Features Editor at Amateur Photographer magazine, and in her increasingly little spare time works across a number of high-profile publications including Wired, Stuff, Digital Camera World, Expert Reviews, and just a little off-tangent, PetsRadar.