Jessops looks set to become the first high street casualty of 2013 as the retailer is understood to be on the brink of administration.
Port Vale Football Club are today expected to announce their preferred bidder.
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The Administrator for the camera chain Jessops say he's had several inquiries from potential buyers but that shops will still close and jobs will be lost.
The company which has its headquarters in Leicester has suffered from online competition and advances in camera phones. Jane Hesketh reports.
The Leicester based camera retailer Jessops has gone into administration. It puts 2,000 jobs at risk as the company's administrators, Price Waterhouse Cooper, say that store closures are 'inevitable'.
Shoppers in Leicester are sad to see the store struggling.
The Leicester based camera chain, Jessops, has become the first high-profile retail casualty of 2013.
Its administrators, Price Waterhouse Cooper, has said that store closures are 'inevitable'.
The retailer has 192 stores across the UK. It puts 2,00 jobs at risk.
Questions are now being raised on the impact this will have Leicestershire's economy.
I understand that Jessops' bank HSBC had been trying to keep things going, but its suppliers, Nikon and Canon, kept cutting credit terms.
Jessops has suffered from years of uncertainty and managed to avoid administration in 2009 by securing a debt-for-equity swap with HSBC.
Jessops' administrators Price Waterhouse Coopers say that the company's online business was growing, but not fast enough to save the rest of the business.
Price Waterhouse Cooper (PwC) has confirmed that Jessops has now filed for administration following "significant decline".
Administrators say it is "inevitable" that there will be store closures, and that the chain can't honour vouchers or returned goods at the moment
Jessops photo store sounds like it is going to be the first victim of the high street in 2013 - Retail Week says it is about to go into administration.
The former boss, who had been credited with turning things around, left Jessops not long ago to try and save HMV.
PWC are likely to be formally appointed Jessops' administrators by the end of play today.
The Coventry-based black cab manufacturer Manganese Bronze has fallen into administration.
The move was confirmed in a statement to the London Stock Exchange today.
The news follows last week's announcement that it was to stop the sale of its vehicles due to a fault on the steering mechanism, prompting a product recall on around 400 new taxis.