Popular photographic retailer Jessops has appointed PricewaterhouseCoopers (PwC) as the administrator

Even with a turnover in the year to December 31 2012 of £236m, major high-street retailer Jessops has announced that its appointed PricewaterhouseCoopers (PwC) as administrators to the struggling business.

The well-known brand has 192 stores and around 2000 employees throughout the UK, Jessops has seen a significant decline in 2012 and forecasts for 2013 indicate that this decline would continue according to PwC. This hasn’t been helped in the run-up to Christmas, with Jessops not generating the profits it had planned. 

Rob Hunt, joint administrator and partner, PwC said:

“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.”

At the time of writing Jessops is not in a position to honour customer vouchers or to accept returned goods.

  • Shaughn

    To be honest I for one believed that JESSOPS was a flagship company in providing a unique combination of services second to non. There were not many companies that provided what we have now lost. I am totally devastated that JESSOPS should have been allowed to sink and disappear in the way it has. Goodbye JESSOP & STAFF for being such fantastic people and for providing me with sound advice and the confidence to persue my interest in photography. Will Miss you ALL!!

  • brian

    Service has its price but not when servicing include opportunisitic airy-fairies like, “New”, “Modern”, “Everything Black, Dark & Fashionista” and so forth with their justifications for “Extra”, “More Touchy Feely” and the, “Ve Von’t Take NO fur zer Answer”, and their best friend, “Count de Money”. Hands up those toothfairies who ‘fink that this is cruel deserving of a Righting Zist und Zat from “The UN & Co.” instead of being normal and human. Those whose conscience is real/24-7 and not for merely show[ing]. Service does not mean going overboard in order to fuel the petty, petty, cash generator if only because service is Of The Heart and not Of The Brain. Hands up those who did not see this coming – including and especially those who went “elsewhere” because pain is a very good teacher of reality.

  • Bernard Roughton

    Totally disgraceful that they are not honouring vouchers – that is theft.

  • Brian Crossland

    Pity to here that yet another giant and lifelong favourite has gone. Blamed, partly, on the internet sales, etc – but the ‘not honouring customer vouchers or returns’ really makes me never want to buy anything in a shop again. At least we know the internet may be occasionally a bit dodgy and take the risk for a cheap purchase.

  • L.Richards

    Can’t believe I took my Nikon 70-200mm f2.8 lens in for repair the day before they went into administration. What happens to my lens I wonder ?

  • F Winchester

    People need to stop buying on line and through Amazon and start using the local high street shops, or all we will be left with is Amazon and the like! If Jessops go we will have no photographic equipment dealer in town.