A Jessops administrator has said in a statement that the company has been sold to a number of buyers including entrepreneur Peter Jones.
Rob Hunt, joint administrator and partner, PwC said: "We can confirm that we have sold the brand and certain other assets to a number of buyers including entrepreneur Peter Jones CBE."
The collapse of three major high street retailers in the space of just one week has led to calls for greater protection for consumers who have gift vouchers.
So far, HMV and Jessops customers have been unable to redeem vouchers for those stores.
However the latest casualty on the high street, Blockbuster, says it does aim to honour them.
ITV News Consumer Editor Chris Choi has been investigating:
Click here to see what your rights are when a company collapses.
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.
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.
ITV News has spoken to Sergio Tallon, a Jessops customer who can't reclaim a £500 voucher as he got to the store just as the shutters were coming down.
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..
From @lee_riches on Twitter:Goodbye to #Jessops I understand why trading is tricky with mobile phone cameras and online stores, but they've served me well each time
From @antjo1987 on Twitter:Very sad about #Jessops closure tonight. They have looked after me well over the years, always has great customer service. Such a shame.
From @nickmilleruk on Twitter: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:
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.
Some 2000 jobs have been put at risk as camera chain Jessops became the first retail casualty of 2013, with store closures "inevitable".
Read the full storyConsumer 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:
