Sad news: Britain’s only specialist nationwide camera retailer Jessops has finally closed all its 187 stores today. About 1,370 store staff are immediately out of work, with those working at its Leicester headquarters to follow soon, amounting to about 2,000 lost jobs. This closure unfortunately leaves customers more or less high and dry since they won’t be able to receive their pre-paid orders, get repairs or refunds on faulty goods. You can make a claim, is the best you can do. [Nikon is apparently working with Jessops Administrators to honor repairs on its cameras.]
A notice on the company’s web site announces the closure. We reproduce part of the notice below:
Customer Notice
The Jessop Group Limited (in Administration)Edward Williams, Robert Jonathan Hunt and Matthew David Hammond of PwC were appointed as joint administrators of The Jessop Group Limited on 9 January 2013.
With effect from 11 January 2013, Jessops online and retail stores have ceased trading.
Certain information for customers is set out below. Other information can be obtained from the PwC website (http://www.pwc.co.uk/jessops) or the helpline below.
Link to PwC press release http://www.ukmediacentre.pwc.com/News-Releases/The-Jessop-Group-Limited-in-administration-Jessops-or-the-Company-1352.aspx
The notice below sets out important information for customers.
Gift vouchers – Gift cards and vouchers are unable to be honoured, Jessops will not be trading on-line or via the store network. If you wish to register a claim in respect of an unredeemed voucher, please see information on registering claims below.
Pre-paid orders / deposits – Customers who have ordered and paid for all or part of their stock either in store or online will not receive their stock purchase. Customers who have paid using credit cards should contact their credit card company to try and seek resolution to this matter. If you are unable to obtain a refund through your credit card company and wish to register a claim, please see the information below.
Repairs – Where possible customers should liaise with the repair agent to arrange return of their asset and third party repair agents have been notified about this. If you do not know which repair agent has possession of your asset, we have requested the repair agents to contact customers directly as well.
Please note that the estimate of the costs of repair will need to be agreed with the repair agents directly, and there is no guarantee that previously agreed estimate costs will be honoured by the repair agents.
via imaging resource
PRESS RELEASE
The Jessop Group Limited – in administration (“Jessops or the Company”)
09 Jan 2013 16:06
Edward Williams, Rob Hunt and Matthew Hammond of PwC were appointed joint
administrators of The Jessop Group Limited on 9 January 2013.
Jessops is a major high- street retailer of photographic equipment and growing on line business. Turnover in the year to 31 December 2012 was £236m and Jessops operated from 192 stores with around 2000 employees throughout the UK. It has a well-known brand, strong reputation for service
and a significant national footprint.
However, its core marketplace has seen a significant decline in 2012 and forecasts for 2013 indicate that this decline would continue. In addition, the position deteriorated in the run up to Christmas as a result of reducing confidence in UK retail. Despite additional funding being made available to the company by the funders, this has meant that Jessops has not generated the profits it had planned with a consequent impact on its funding needs. This was exacerbated by a credit squeeze in the supplier
base.
Rob Hunt, joint administrator and partner, PwC said:
“Over the last few days the directors, funders and key suppliers have been in discussions as regards additional consensual financial support for the business. However these discussions have not been successful. In light of these irreconcilable differences the directors decided to appoint
administrators and we were appointed earlier today.
“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. 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.”
Finally, at present Jessops is not in a position to honour customer vouchers or to accept returned goods.