JESSOPS - Overpriced store goes into administration. - Polidicks

[quote] [img]http://news.bbcimg.co.uk/media/images/65184000/jpg/_65184691_65184690.jpg[/img] Troubled High Street camera retailer Jessops has gone into administration, with PricewaterhouseCoopers (PwC) appointed as the administrator. In recent years, it has been hit by increasing competition from supermarkets and internet retailers. Jessops, which was founded in Leicester in 1935, has 192 stores in the UK and employs about 2,000 staff. The administrators said that it was "inevitable" that some stores would have to close. PwC said that while Jessops was a well-known brand with a strong reputation for service, its core marketplace had seen a significant decline in 2012, which was forecast to continue in 2013. Despite additional funding being made available, Jessops had not generated the profits it had planned, PwC added. In 2009, Jessops managed to avoid administration by agreeing a debt for equity swap with its lender HSBC. 'Yet another blow'[/quote] [url]http://www.bbc.co.uk/news/business-20958659[/url] Not surprised, the cameras and lenses they sell can be bought with a full warranty for half the price. The digital age has totally flunked photography shops.

rip

haha my dad just recently bought a £100 telescope, to be fair though it was reduced from £300 but when we got home all the parts wernt actually in the box. Thankfully a week later and an angry dad we got it for £80 with all the parts too.

Never saw a JESSOPS. Oh well. Another extinct store.

Well if you cant provide better business than your competitors, you cant compete. Unless you are a mega corporation, then you can pretty much bribe your way out of the slack.

I've never heard of this place before.

[QUOTE=Emperor Scorpious II;39157982]I've never heard of this place before.[/QUOTE] Do you live in the UK?

[QUOTE=MrEndangered;39158942]Do you live in the UK? Do you pay more than £300 for a camera? Obviously no to both. I, for one, still have a £450 camera on finance from them. Why do none of the finance companies go bust, dammit. Our local Jessops has some wonderfully friendly staff.[/QUOTE] Even if a finance company goes bust, your debt to them is sold of as an asset to someone else.

[QUOTE=SilentOpp;39160903]Even if a finance company goes bust, your debt to them is sold of as an asset to someone else.[/QUOTE] Correct. That makes me sad.

I live in the UK, never heard of this place. There was a Woolworths near to me that I always remembered, surprised me when they went down the plughole. Jessops have had about 5-6 years to think about not ending up the same, they're idiots for thinking they can get away with this: [quote]Not surprised, the cameras and lenses they sell can be bought with a full warranty for half the price.[/quote]

Jessops is one of those store where no one really buys stuff from there, but the moment a single camera or lens goes on offer it gets swarmed by people trying to get there first. It's how I got my Nikon.

Yet more unfortunate people that loose their jobs.

Its a shame, The one near me is one of the few places still developing C41 film properly, As in the staff know what they are doing so can stop it up or down when you ask.

There's a few Jessops near where I live, but I've only ever been in one once, and that was to get out of the rain for a few minutes. There's a few independent places near me as well, and apparently people who into photography around here use those instead.

Update: All 187 stores to close with 1,370 losses [b]TONIGHT[/b] [quote=Da Beeb]High Street camera retailer Jessops is to shut all of its stores, resulting in the loss of about 1,370 jobs. Administrator PricewaterhouseCoopers (PwC), appointed this week, said all 187 stores in the UK would shut at the [b]end of trading on Friday.[/b] More jobs would be lost at the head office in Leicester, it added. Jessops became the first High Street casualty of 2013, after a raft of firms fell into administration in 2012, including Comet and Clinton Cards. The camera chain was founded in Leicester in 1935. In recent years, it has been hit by increasing competition from supermarkets and internet retailers. Rob Hunt, joint administrator at PwC, said: "[b]The stock will be collected over the coming days and returned to a central warehouse. 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.[/b]" "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."[/quote] [url]http://www.bbc.co.uk/news/business-20992125[/url]