Jessops prepares to call in administrators

Jessops has filed a notice of intention to appoint Resolve as administrators, indicating the prospect of store closures.

The camera chain currently has four branches in Scotland and a total of 46 across the UK.

The Scottish branches are based in Aberdeen, Edinburgh, Glasgow and Inverness.

STV has reported that chain owner, Dragon’s Den star Peter Jones, is believed to be seeking to secure a company voluntary arrangement (CVA) rescue deal with creditors to close unprofitable stores and cut rents across the chain.



Jessops Europe, the holding company fo the retail operations, remains unaffected by the administration plans.

Jessops currently employs about 500 members of staff and has posted widening losses, reporting a pre-tax loss of £13 million for the year to the end of April 2018.

The company was purchased by Mr Jones and other investors in 2013 after it fell into administration, which led to the close of all its 187 stores which resulted in the loss of nearly 1500 jobs.

The firm significantly suffered in 2013 after online competition negatively affected the firm’s performance. Similarly, a boom in camera phones over recent years hit demand for digital cameras.

Jessops has continuously struggled since 2007 when it underwent a major overhaul with an abundance of store closures.

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