Some 2000 jobs have been put at risk as camera chain Jessops became the first retail casualty of 2013, with store closures "inevitable".
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.
Leicester-based Jessops is closing all 187 of its stores across the UK. Administrators made the announcement this afternoon.
More than 1300 jobs across the country will be lost - 230 of those right here in the Midlands. And more are likely to go at the group's head office in Leicester. Our Business Correspondent Mark Gough reports.
Customers and former employees of the failed camera chain Jessops have taken to Twitter to lament the closure of the retailer:
Can't believe #Jessops is to close.. Was a good place to work.. My first retail job when I was 16.. Feel sorry for friends losing jobs..
Goodbye to #Jessops I understand why trading is tricky with mobile phone cameras and online stores, but they've served me well each time
Very sad about #Jessops closure tonight. They have looked after me well over the years, always has great customer service. Such a shame.
Administrators are to close all of the failed camera chain Jessops' stores, with the loss of 1,377 jobs across the UK and Ireland. The majority of the job losses will be in the Midlands and London. The regional breakdown is as follows:
- East: 175
- South East: 131
- South West: 174
- North East: 106
- North West: 113
- Ireland: 30
- Scotland: 96
- Wales: 32
- Midlands: 230
- London: 290
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.
Louise Cooper, financial expert spoke to ITV Daybreak about the issues that specialist retailers face.
She said that retailer Jessops has suffered from the smart phone camera, and that an online offering could be a way for it to move ahead.
Consumer rights group Which? said customers need to be aware of their rights as it emerged that people with Jessops gift vouchers may not be able to use them. A spokesman for Which? gave this advice:
- Write to the administrators (Price Waterhouse Cooper) with proof of your vouchers. There is no guarantee that you will get the full value back, and a claim could take some time to process.
- If you have bought an extended warranty, check the small print carefully. Often it is provided by a third party in which case you shouldn't be affected.
- If you've bought items costing more than £100 on a credit card and the supplier goes bust, you can claim a refund by writing to the credit company.
– Linda Willis
[I'm] very sorry to hear that. My ex-husband and my son have spent a lot of money in Jessops over the years. So have I! But as others have said, online sales have brought a more reasonable price when people are strapped for cash.
– Chris Ingall
It doesn't surprise me. My local Jessops is always empty and as a keen amateur photographer I noticed some of their equipment could easily be bought elsewhere sometimes at a third of the price ...
– Fanny Allen
In our small town, we have so many charity shops, banks, a 99p store, cash loan shops. [It's] pathetic really.