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Advice for people with Jessops gift vouchers

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.

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Viewers react to news of Jessops going into administration

ITV News have been giving their reaction to the news that Jessops has been placed into administration on our Facebook page.

[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.

– Linda Willis

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 ...

– Chris Ingall

In our small town, we have so many charity shops, banks, a 99p store, cash loan shops. [It's] pathetic really.

– Fanny Allen
National

Reasons for Jessops' financial troubles

A statement from Jessops' administrators Price Waterhouse Cooper describes the reasons for the chain's financial troubles:

Its core marketplace has seen a significant decline in 2012 and forecasts for 2013 indicate that this decline would continue.

In addition, the position deteriorated in the run up to Christmas as a result of reducing confidence in UK retail.

Despite additional funding being made available to the company by the funders, this has meant that Jessops has not generated the profits it had planned with a consequent impact on its funding needs.

This was exacerbated by a credit squeeze in the supplier base.

– price waterhouse cooper

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PwC: Trading to continue but store closures 'inevitable'

A representative from Jessops' administrators Price Waterhouse Cooper has released this statement:

Over the last few days the directors, funders and key suppliers have been in discussions as regards additional consensual financial support for the business. However these discussions have not been successful.

In light of these irreconcilable differences the directors decided to appoint

administrators and we were appointed earlier today.

Our 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 dependent on these ongoing discussions.

However, in the current economic climate it is inevitable that there will be store closures.

– Rob Hunt, joint administrator and partner, price waterhouse cooper
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