Jessops stores to close tonight
By Dave Stevenson
Posted on 11 Jan 2013 at 17:03
All 187 Jessops stores are to close this evening, only two days after the firm went into administration.
The high street photography retailer appointed PriceWaterhouseCoopers to take over the day-to-day running of the firm on Wednesday.
Today, the administrators announced that the stores will close with immediate effect, with no fire sale of cameras and other photography equipment.
"The stock will be collected over the coming days and returned to a central warehouse," Rob Hunt, joint administrator, told the BBC. "It will be returned to suppliers if they are entitled to it. As a consequence of the closure, Jessops is no longer able to accept returned product from customers.
"This is an extremely sad day for Jessops and its employees. We will continue to ensure that employees are paid as they assist us during the closure."
The store closures will come at the cost of about 1,370 jobs. The Jessops website was still operational at the time of publication.
Jessops narrowly avoided administration three years ago, when HSBC took over 47% of the business in return for writing off £34 million of debt.
Still, the company lost £900,000 in the year to January 2012 amid consumers migrating from compact cameras to smartphones, and strong competition from online retailers.
Earlier this week, Play.com announced the closure of its UK retail business.
Just wondering - do you actually want to see, touch, try electrical items before buying and ask some questions (yes, in some cases the salesman's product knowledge may not be up to scratch)?
The current electrical retail model doesn't work. Despite all their flaws, Jessops & Comet have now disappeared; many independent retailers have gone. They can't compete with single digit margins which websites can work on due to their higher costs. Whilst manufacturers give some extra support, they don't give enough to cover the costs of display, rent, staff, theft, etc. So if they match website prices, they can't then pay their bills.
Hands up - I am in electrical retail and we do pride ourselves on the service we give, but with margins and volume shrinking (we can handle one but not both) we have been making substantial losses.
Finally, in my experience landlords are now willing to help and I have been offered zero rent but the rates are now astronomical
By amanu2 on 12 Jan 2013
Sad for staaf losing their jobs but not sorry for the company. Over the years they have been responsible for buying up independent photographic dealers, changing their names to Jessops and then closing them. No sympathy.
By cmuzik on 13 Jan 2013
gone in a flash
By invalidscreenname on 13 Jan 2013
Don't blame the web..
...when landlords rents are the issue.
Rents went up faster than prices could and margins spiralled down as a result.
Most retailers simply cannot afford to operate in the high street.
Add to that most local councils on a supposedly "green" kick, removed parking from towns and/or priced cars out and nobody wants to go into town to fight for an expensive parking space to visit a high street, when free parking in an out-of-town centre offers a better selection and better prices. It's not rocket science to see the end result.
Jessops ousted our local photographic shop (Camera Gear) from Maidstone high street several years ago, so my sympathy is for the staff only.
By cheysuli on 14 Jan 2013
As a trusted photo print supplier, many photographers have designed photo books, calendars and other photo print products using Jessops photo software. Many will now want to find an alternative print supplier.
The online photo service FotoInsight offers those looking to print their Jessops photo book designs a simple solution: downloading and installing the free FotoInsight Designer software instead from free from http://fotoinsight.co.uk/designer-application.html
. All projects from the now defunct photographic retail chain can be opened, edited and printed in the FotoInsight Designer software and printed in award winning print quality.
By kbrumann on 14 Jan 2013
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