1,377 jobs go as Jessops shuts

Administrators are to close all of the failed camera chain Jessops' stores, with the loss of 1,377 jobs.

Latest ITV News reports

Jessops customer stuck with £500 voucher

A man was left with an unusable £500 Jessops voucher after making a failed last-minute attempt to spend it before the camera chain closed down today.

Sergio Tallon, who was given the voucher by his girlfriend, told ITV News he had been "running around London" trying to find a store that was open.

He narrowly missed out on being able to spend the voucher after shops closed early following the firm's administration.

Administrator: 'Extensive discussions' failed to save Jessops

Jessops administrator Pricewaterhouse Cooper said it held "extensive discussions" with suppliers, but it was apparent that the camera chain could not continue to trade.

PwC's Rob Hunt said stock would be collected from the shops and taken to a warehouse, where it would be returned to suppliers.

As a result of the closure of the shops, Hunt added that customers would not be able to return products.

Advertisement

Public sadness at closure of Jessops

Customers and former employees of the failed camera chain Jessops have taken to Twitter to lament the closure of the retailer:

180174_10150420037195273_504885272_17263408_8083850_n_normal

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..

6be9fff7e564dbf3171cf0f45fedfe02_normal

Goodbye to #Jessops I understand why trading is tricky with mobile phone cameras and online stores, but they've served me well each time

Nickicon_normal

Very sad about #Jessops closure tonight. They have looked after me well over the years, always has great customer service. Such a shame.

1377 jobs to go at Jessops' stores across the UK

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

Advertisement

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.

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

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
Load more updates