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.

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Jessops came under pressure from camera suppliers

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.

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