Jessops is one of the UK’s biggest
camera sellers and, unfortunately, things aren’t looking good for
them. While the company had hoped to turn a profit in 2013 after
taking out some loans in 2012, the forecast is dire. As such, the
company has turned to bankruptcy and is now “in administration”
as the Brits put it.
PricewaterhouseCoopers has confirmed
that it will be handling the task of sorting out the debts owed by
Jessops. “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,” says
PwC’s Rob Hunt. “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.”
Currently the Jessops website is still
up, but purchases are disabled. The company has also stated that it
will not be accepting gift vouchers or returns at this time.
