Wednesday, May 22, 2024

Jessops goes into administration

CAMERA SPECIALISTS Jessops, which has a branch in Lakeside has gone into administration.

There was speculation that suppliers would invest in the business last year but no deal materialised.

On Monday Jessops, which operates 193 stores, revealed it was closing 15 unprofitable stores.

According to Retail Week, it had managed to avoid administration in 2009 by securing a debt for equity swap with its lenders HSBC.

But it has been under pressure following the increased popularity of camera phones, hitting demand for digital cameras.
Jessops has been attempting to boost business by refreshing stores and developing a number of strategies including ‘Live’ stores which allow customers to try out the products.

1 COMMENT

  1. The staff in the Lakeside Jessops were idiots they knew no more about Digital photography than any babboon and they were just Pressure selling!
    in my experinance i went to check a lens weight & size but it was £400 to buy the same lens at twice the price i knew i had seen online.
    Saved £200 via www happy !

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