Jessops cuts 1,370 jobs as it goes into administration
14 January 2013
The high street camera and photo retailer will cut 1,370 jobs as it goes into administration.
Jessops’ administrators, PricewaterhouseCoopers (PwC), announced on Friday that the camera shop will close its 187 remaining branches across the UK.
The announcement came after Jessops said it was entering administration, following a significant decline in turnover for 2012. Forecasts for 2013 indicated that this decline would continue. Jessops’ position deteriorated in the run up to Christmas, as a result of reducing confidence in UK retail.
Remaining stock will be returned to suppliers, if they are in entitled to it, but the retailer will no longer be able to accept returned products from customers.
Jessops is the first British retailer to go into administration in 2013. It follows the closure of a string of high street shops in 2012, including Comet, Clinton Cards, JJB Sports and Game.
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