Essex-based UK photo retailer AJ Purdy has become a victim of the global slowdown and has gone into administration.
Visitors to the company's website are now being met with the notice: 'Please note that unfortunately AJ Purdy & Co Ltd are now closed and so no longer trading.'
Customers are advised: 'Please check back here later this week for further information. All orders that were in stock have been processed and sent out and we have advised most customers who ordered items not in stock that they will not be receiving the item...Please do not return any goods as the unit is closed and cannot accept deliveries.'
Speaking to The British Journal of Photography, director Steve Marley explained that the company had opted to move to a larger premises, and had received promises of support from manufacturers, but some of the money never materialised.
'We then were hit hard by the credit-crunch and the reaction of several large competitors was to cut prices even further to the extent of being well below our cost on many key items. Certain manufacturers then heard rumours about us being in receivership which were not true but nonetheless lead to the suspension of certain key deliveries and reduction in credit limits, which basically pushed us into this position.'