UPDATED: Jobs at risk as Jessops goes into administration

First published in News by

JOBS are at risk at local branches of the camera chain Jessops after the group went into administration.

The future of 2,000 staff nationwide is in doubt after administrators said branch closures were “inevitable”.

And administrators have said stores will not be accepting gift vouchers or returned goods while talks go on in a bid to save the business.

The company has branches at Bournemouth’s Castlepoint and Poole’s Dolphin Centre. It closed a branch in central Bournemouth in 2012.

The Poole branch has been open for 24 years.

PricewaterhouseCoopers (PwC) has been appointed to the group, which is Britain's only specialist nationwide camera retailer, with nearly 200 stores.

It marks the first high-profile retail collapse of 2013 and comes soon after consumer electricals chain Comet hit the wall, sparking more than 6,000 job losses.

Jessops, which has its headquarters in Leicester, has suffered in recent years from online competition and the boom in camera phones, which has hit demand for digital cameras.

A statement from PwC said: "Jessops is a major high- street retailer of photographic equipment and growing online business. Turnover in the year to December 31 2012 was £236million and Jessops operated from 192 stores with around 2000 employees throughout the UK. It has a well-known brand, strong reputation for service and a significant national footprint.

"However, 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."

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 (Wednesday).

“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.”

The statement added: "At present Jessops is not in a position to honour customer vouchers or to accept returned goods."

Comments (21)

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1:38pm Wed 9 Jan 13

Huey says...

Suprised it has even lasted this long.
If you need new camera equipment you might ask jessops for advice, but you'll find the product cheaper on line from a company with far lower overheads.
Few folk get films developed these days.
Just like books shops and records shops, camera shops are going to go from the high street.
Suprised it has even lasted this long. If you need new camera equipment you might ask jessops for advice, but you'll find the product cheaper on line from a company with far lower overheads. Few folk get films developed these days. Just like books shops and records shops, camera shops are going to go from the high street. Huey
  • Score: 0

1:44pm Wed 9 Jan 13

speedy231278 says...

Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains. speedy231278
  • Score: 0

1:51pm Wed 9 Jan 13

jeebuscripes says...

Another one bites the dust.
Another one bites the dust. jeebuscripes
  • Score: 0

1:57pm Wed 9 Jan 13

funkyferret says...

A very sad indictment on the current situation nationally. Everyone is being squeezed for money, the best deals are on the internet as they don't have to cope with arbitrary rises in rent & associated overheads.
Am saddened for the experienced & loyal staff who are in line to lose their jobs.
A very sad indictment on the current situation nationally. Everyone is being squeezed for money, the best deals are on the internet as they don't have to cope with arbitrary rises in rent & associated overheads. Am saddened for the experienced & loyal staff who are in line to lose their jobs. funkyferret
  • Score: 0

1:58pm Wed 9 Jan 13

l'anglais says...

speedy231278 wrote:
Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response.

Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
[quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls. l'anglais
  • Score: 0

2:07pm Wed 9 Jan 13

Huey says...

l'anglais wrote:
speedy231278 wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
Ah but would they even have had jobs without capitalism?
[quote][p][bold]l'anglais[/bold] wrote: [quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.[/p][/quote]Ah but would they even have had jobs without capitalism? Huey
  • Score: 0

2:11pm Wed 9 Jan 13

Tig says...

Actually, I've found that Jessops has been able to compete with many photographic items that are sold elsewhere (and online), so I think some of the above comments are unfair.
.
I've always had good and knowledgeable service from them at both the old Bournemouth store, and the one at Castlepoint.
.
I, for one, hope they get taken over and keep the brand going.
Actually, I've found that Jessops has been able to compete with many photographic items that are sold elsewhere (and online), so I think some of the above comments are unfair. . I've always had good and knowledgeable service from them at both the old Bournemouth store, and the one at Castlepoint. . I, for one, hope they get taken over and keep the brand going. Tig
  • Score: 0

2:26pm Wed 9 Jan 13

goldmum says...

poor people working at Jessops more jobs to go!!
poor people working at Jessops more jobs to go!! goldmum
  • Score: 0

2:29pm Wed 9 Jan 13

Huey says...

Tig wrote:
Actually, I've found that Jessops has been able to compete with many photographic items that are sold elsewhere (and online), so I think some of the above comments are unfair. . I've always had good and knowledgeable service from them at both the old Bournemouth store, and the one at Castlepoint. . I, for one, hope they get taken over and keep the brand going.
They were overpriced (if very knowlegeable) and I suspect that is why they are going out of business, why else?
They have been taken over several times since the founder's son sold the business in 1996 (another capitalist for you, speedy231278) and are now part owned by HSBC, who no doubt will cut their losses and shut up shop.
[quote][p][bold]Tig[/bold] wrote: Actually, I've found that Jessops has been able to compete with many photographic items that are sold elsewhere (and online), so I think some of the above comments are unfair. . I've always had good and knowledgeable service from them at both the old Bournemouth store, and the one at Castlepoint. . I, for one, hope they get taken over and keep the brand going.[/p][/quote]They were overpriced (if very knowlegeable) and I suspect that is why they are going out of business, why else? They have been taken over several times since the founder's son sold the business in 1996 (another capitalist for you, speedy231278) and are now part owned by HSBC, who no doubt will cut their losses and shut up shop. Huey
  • Score: 0

3:21pm Wed 9 Jan 13

jpwf says...

l'anglais wrote:
speedy231278 wrote:
Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response.

Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook!
[quote][p][bold]l'anglais[/bold] wrote: [quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.[/p][/quote]Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook! jpwf
  • Score: 0

3:57pm Wed 9 Jan 13

speedy231278 says...

l'anglais wrote:
speedy231278 wrote:
Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response.

Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
I'm sure no-one will care when I lose my job at some point this year seeing as the company I work for is already in administration. However, in our case, it wasn't due to pricing everything far too high and increasing the prices a few weeks before Christmas every year.
[quote][p][bold]l'anglais[/bold] wrote: [quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.[/p][/quote]I'm sure no-one will care when I lose my job at some point this year seeing as the company I work for is already in administration. However, in our case, it wasn't due to pricing everything far too high and increasing the prices a few weeks before Christmas every year. speedy231278
  • Score: 0

3:58pm Wed 9 Jan 13

speedy231278 says...

Gone.

http://www.bbc.co.uk
/news/business-20958
659
Gone. http://www.bbc.co.uk /news/business-20958 659 speedy231278
  • Score: 0

4:11pm Wed 9 Jan 13

pete woodley says...

jpwf wrote:
l'anglais wrote:
speedy231278 wrote:
Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response.

Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook!
Some very good points,worth remembering.
[quote][p][bold]jpwf[/bold] wrote: [quote][p][bold]l'anglais[/bold] wrote: [quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.[/p][/quote]Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook![/p][/quote]Some very good points,worth remembering. pete woodley
  • Score: 0

4:26pm Wed 9 Jan 13

The Renegade Master says...

If our High Streets are failing it's not just the economic climate, it's also partly the fault of our greedy Councils. Sky high business rates have crippled many shops and ludicrous parking charges have driven more and more customers to large retail outlets that have free parking. No wonder on line sales are building year on year when everything is stacked against both the retailer and the consumer.
If our High Streets are failing it's not just the economic climate, it's also partly the fault of our greedy Councils. Sky high business rates have crippled many shops and ludicrous parking charges have driven more and more customers to large retail outlets that have free parking. No wonder on line sales are building year on year when everything is stacked against both the retailer and the consumer. The Renegade Master
  • Score: 0

4:41pm Wed 9 Jan 13

Huey says...

jpwf wrote:
l'anglais wrote:
speedy231278 wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.
Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.
Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook!
There is so much competition online I'm not sure prices WILL rise if the high street goes.
Retailers know online shoppers are savvy and always price check.
If they aren't cheapest they won't get the sale.
As to handling the goods first - that doesn't matter, any online retailer worth their salt has a free returns policy or will exchange for something else.
Many goods purchased online don't need inspection first - if I am ordering a PS3 or a huge box of jacobs cream crackers, I know what to expect.
[quote][p][bold]jpwf[/bold] wrote: [quote][p][bold]l'anglais[/bold] wrote: [quote][p][bold]speedy231278[/bold] wrote: Not surprised considering how flaming expensive they are! Hopefully they'll have a fire sale like Comet and we'll get some bargains.[/p][/quote]Typical capitalist response. Not a thought for those about to lose theirs jobs, just, "nice little earner" on the backs on other poor desperate souls.[/p][/quote]Has anyone thought of the ramifications of losing the high street presence? It's one thing to buy 'on-line' after touching and feeling in the High St - but completely different buying 'blind' online without being able to handle the goods first. The High Street has unfairly been used as the 'unpaid show room' for the online retailers. Once the High St presence has gone you can bet your bottom dollar the online prices will creep up without offering the added value of the High Street - A very sad outlook![/p][/quote]There is so much competition online I'm not sure prices WILL rise if the high street goes. Retailers know online shoppers are savvy and always price check. If they aren't cheapest they won't get the sale. As to handling the goods first - that doesn't matter, any online retailer worth their salt has a free returns policy or will exchange for something else. Many goods purchased online don't need inspection first - if I am ordering a PS3 or a huge box of jacobs cream crackers, I know what to expect. Huey
  • Score: 0

6:25pm Wed 9 Jan 13

timwel says...

Such a shame Jessops has failed. It provided choice, service and advice from knowledgeable assistants that sets its aside from many other retail victims. It seems our tax structure, import tax, VAT, rates, PAYE etc have done for the high street. Still you all like charity shops, pound shops and buying from Tesco don't you.
Such a shame Jessops has failed. It provided choice, service and advice from knowledgeable assistants that sets its aside from many other retail victims. It seems our tax structure, import tax, VAT, rates, PAYE etc have done for the high street. Still you all like charity shops, pound shops and buying from Tesco don't you. timwel
  • Score: 0

7:26pm Wed 9 Jan 13

L'enfant terrible says...

Such a shame to see yet another high street fatality. I always valued the service and knowledge imparted by this company, in both the Bournemouth and Poole stores having bought both second hand and new 35mm SLR film based camera's prior to the digital revolution. Hope any staff losing their jobs are able to find another opportunity. However I
don't think this is an entirely based on price, but the fact that anyone who now owns a smartphone would have a very capable camera included with the phone, using quality Carl Zeiss lens and having numerous added functionalities. If you then include the whole photoshop generation which enables users to manipulate their pictures post production, and smaller niche printing businesses offering a quicker turnaround on their service, plus the economy grinding to a halt you don't have to a genius to work out why so many people have migrated away from Jessops, or have never needed their services in the first place.
Such a shame to see yet another high street fatality. I always valued the service and knowledge imparted by this company, in both the Bournemouth and Poole stores having bought both second hand and new 35mm SLR film based camera's prior to the digital revolution. Hope any staff losing their jobs are able to find another opportunity. However I don't think this is an entirely based on price, but the fact that anyone who now owns a smartphone would have a very capable camera included with the phone, using quality Carl Zeiss lens and having numerous added functionalities. If you then include the whole photoshop generation which enables users to manipulate their pictures post production, and smaller niche printing businesses offering a quicker turnaround on their service, plus the economy grinding to a halt you don't have to a genius to work out why so many people have migrated away from Jessops, or have never needed their services in the first place. L'enfant terrible
  • Score: 0

8:40pm Wed 9 Jan 13

Dr Strangelove says...

The Renegade Master wrote:
If our High Streets are failing it's not just the economic climate, it's also partly the fault of our greedy Councils. Sky high business rates have crippled many shops and ludicrous parking charges have driven more and more customers to large retail outlets that have free parking. No wonder on line sales are building year on year when everything is stacked against both the retailer and the consumer.
Some very good points but most small shop owner I know say it is the rents they pay to the landlords that kill them monthly. About 2 years ago I knew of some one who's rent doubled because the landlord said the market conditions were hard for them. Well my friend shut up his business as all the rents had shot up.
[quote][p][bold]The Renegade Master[/bold] wrote: If our High Streets are failing it's not just the economic climate, it's also partly the fault of our greedy Councils. Sky high business rates have crippled many shops and ludicrous parking charges have driven more and more customers to large retail outlets that have free parking. No wonder on line sales are building year on year when everything is stacked against both the retailer and the consumer.[/p][/quote]Some very good points but most small shop owner I know say it is the rents they pay to the landlords that kill them monthly. About 2 years ago I knew of some one who's rent doubled because the landlord said the market conditions were hard for them. Well my friend shut up his business as all the rents had shot up. Dr Strangelove
  • Score: 0

9:49pm Wed 9 Jan 13

Jetwasher says...

Over priced and still robbing the customer by not honouring customer vouchers or accepting returned goods. Good riddance ! Who's next ....
Over priced and still robbing the customer by not honouring customer vouchers or accepting returned goods. Good riddance ! Who's next .... Jetwasher
  • Score: 0

12:56pm Thu 10 Jan 13

kingstonpaul says...

Jessops was offering an enthusiast's offer in a market where there are fewer and fewer enthusiasts around. There's less coming to market because they're growing up with cameras in their phones. And for many, they're not that fussed about quality. Shame
Jessops was offering an enthusiast's offer in a market where there are fewer and fewer enthusiasts around. There's less coming to market because they're growing up with cameras in their phones. And for many, they're not that fussed about quality. Shame kingstonpaul
  • Score: 0

4:39pm Thu 10 Jan 13

Jason Lawford says...

I am not surprised, I always found Jessops very unhelpful, and their price was rarely a consideration.
I prefer the independent camera shops like Castle Cameras at Winton and Salisbury, who are VERY knowledgeable and friendly, and their prices are as cheap/reasonable as you can find - even compared to online searches. (no I do not work for them - and they have a web shop for convenience)
I am not surprised, I always found Jessops very unhelpful, and their price was rarely a consideration. I prefer the independent camera shops like Castle Cameras at Winton and Salisbury, who are VERY knowledgeable and friendly, and their prices are as cheap/reasonable as you can find - even compared to online searches. (no I do not work for them - and they have a web shop for convenience) Jason Lawford
  • Score: 0

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