Welcome to the MacNN Forums.

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

You are here: MacNN Forums > News > Tech News > UK photography store chain Jessops closes all 187 stores

UK photography store chain Jessops closes all 187 stores
Thread Tools
MacNN Staff
Join Date: Jul 2012
Status: Online
Reply With Quote
Jan 11, 2013, 03:03 PM
 
Jessops, the largest photography chain store in the United Kingdom, has closed down all of its 187 stores, two days after entering administration. More than 1,370 jobs will be lost due to the closures, with more expected to be lost at the company's head office in the future. Administrator PriceWaterhouseCoopers is currently managing the firm's closure.

There are no prospects of a fire-sale, as remaining camera stocks will be sent to a central warehouse before being returned to manufacturers. The BBC reports that the company suffered in talks with lenders and suppliers after poor holiday sales, likely from better prices being offered by online retailers and the decline in compact camera sales following improvements in smartphone cameras. Jessops narrowly avoided administration in 2009 by agreeing to a debt-for-equity swap with financial institution HSBC. Technology-related retailers in the UK have been finding economic conditions difficult in recent months. Electrical retailer Comet shut its doors in mid-December, closing its 236 stores, while Jersey retailer Play.com is going to stop its direct retail business in favor of offering sales from other retailers as an online marketplace, because of changes in tax law.
     
   
Thread Tools
Forum Links
Forum Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts
BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On
Top
Privacy Policy
All times are GMT -4. The time now is 02:23 AM.
All contents of these forums © 1995-2014 MacNN. All rights reserved.
Branding + Design: www.gesamtbild.com
vBulletin v.3.8.8 © 2000-2014, Jelsoft Enterprises Ltd., Content Relevant URLs by vBSEO 3.3.2