jessops
jessops store reopening? - a london - based jessops store could be set to reopen this week .
jessops share price. jsp - stock quote, charts, trade history, share chat, financials. jessops plc ord 2. 5p
“jessops has a reputation which is well known. we know jessops is the number one brand, and i love it, ” he said .
new jessops owners are targeting a return to profitability this year. photograph: pr
nikisha cantle had been employed in the jessops store in croydon, south london .
jessops traces it roots back to a chemist store opened in leicester 130 years ago .
a look at the history of camera specialist retailer jessops which collapsed into administration yesterday .
a succession of clothing shops came and went before jessops took it on in 1990 .
jessops' shares gained 7% to 19. 25 pence in london on the news .
the first buyout team tried to float jessops four years ago but later abandoned the attempt .
1 year guarantee included. extend cover to 3 years with jessops care plan £89. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £199. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £65. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £149. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £129. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £79. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £55. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £96. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £199. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £96. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £100. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £85. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £35. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £53. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £59. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £47. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £39. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £39. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £47. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £59. 00
1 year guarantee included. extend cover to 3 years with jessops care plan £130. 00
2 year guarantee included. extend cover to 3 years with jessops care plan £53. 00
1980s: jessops moves south, with a shop opening on london' s finchley road .
pwc are likely to be formally appointed jessops' administrators by the end of play today .
welcome to the official page of jessops. learn about the latest news & events and don' t forget to share your photos with us! for customer service: @ jessops _ help
i' ll tell you a little more about working for jessops. it' s cushty .
2013: jessops collapses, putting 2, 000 jobs at risk. pricewaterhousecoopers appointed as administrators .
hsbc and jessops employees owned the company and face being the main financial losers from its collapse .
photography retail chain jessops is reopening today with dragons’ den entrepreneur peter jones cbe at the helm .
birmingham has been chosen as one of the first cities to relaunch the camera chain store jessops .
horsham - it' s great to here that jessops is reopening in... | facebook
then in 2002, dutch bank abn amro' s venture capital arm bought jessops for £116 million .
it had initially been thought the scaled - down jessops would operate as an internet - only brand .
2007: shares in jessops plunge 70pc after the company issues its third profit warning in a year .
hsbc took control of jessops through a debt - for - equity swap in 2009, which wiped out shareholders. as part of the restructuring, jessops pension holders took a 33pc stake and management 20pc .
‘as a consequence of the closure, jessops is no longer able to accept returned product from customers .
camera retailer jessops has been placed into administration, with administrators saying store closures are
inevitable
.
jessops had struggled since 2007, when it underwent a major overhaul with a swathe of store closures .
when jessops collapsed earlier this month it closed its 187 branches with the loss of 1, 500 jobs .
it came after talks this week between jessops and its lender and suppliers broke down after a poor christmas .
photography retailer jessops is opening a new store in norwich – more than two years after exiting the city .
he continued :
the board is confident that jessops will deliver a significant turnaround in its financial performance .
as well as camera equipment, jessops also stocks digital and analogue camcorders, binoculars and darkroom and studio equipment .
making a photobook is a breeze! heres how quick and easy it is to get started with jessops photo .
1970s: jessops moves to large premises on the hinckley road in leicester. this shop later closed in 2008 .
dragons' den star peter jones has chosen birmingham as one of the places to relaunch camera retailer jessops today .
this external influences case study reviews the external factors that have had an impact on jessops' operations and strategy .
photographic retailer jessops plans to close 81 high street stores, about a quarter in total, and cut 550 jobs .
i believe jessops is an iconic british brand which can lead the retail resurgence on britain' s high streets .
2006: jessops confirms that it is no longer purchasing used equipment or accepting it from customers in part - exchange .
our internal goal is to become profitable this year ,
trevor moore, jessops' chief executive, said .
we also heard from many former jessops employees who attempted to explain why the company is now finding itself in difficulty .
dragons' den star peter jones has today chosen birmingham as one of the first cities to relaunch camera retailer jessops .
jessops, the photographic retailer which went into administration earlier this year, looks set to open one of its london stores again. according to a report by ap, the store on oxford street, which was closed alongside jessops' other branches after administrators were unable to find a buyer for jessops back in january, has seen plenty of activity throughout the day. since going into administration, entrepreneur peter jones bought the company to run it as an online business. the jessops website homepage currently says that the' new jessops website will be launching soon'. via amateur photographer (ap )
last week it was revealed that the restructuring specialist hilco had been in discussions with the administrators about acquiring the jessops brand .
since then, jessops has been revamping stores and boosting its online business as part of efforts to get back on track .
for the first time in jessops’ history, products sold online and in - store will be priced at the same level .
2004: jessops finally floats in london. the chain uses the float proceeds to pay down £96. 8m of debt .
administrators are to close all of the failed camera chain jessops' stores, with the loss of 1, 377 jobs .
high street camera retailer jessops has shut all of its stores, resulting in the loss of about 1, 370 jobs .
rob hunt, joint administrator at pwc, said it was an
extremely sad day for jessops and its employees
.
2008: jessops issues another profits warning causing a 30% slide in share price. the firm slashes 200 assistant manager jobs but says it does not plan further store closures. jessops agrees an extension of its loan with hsbc bank until 31 december 2011
the former boss, who had been credited with turning things around, left jessops not long ago to try and save hmv .
the collapsed high street camera retailing brand jessops has been bought by a group including entrepreneur and dragons' den star, peter jones .
photographic specialist jessops announced plans today to float on the london stock market in a move that could value it at more than £180m .
camera retailer jessops has collapsed into administration, putting around 2, 000 jobs at risk. here is a history of the chain .
jessops looks set to become the first high street casualty of 2013 as the retailer is understood to be on the brink of administration .
midlands camera chain jessops is back after dragons' den entrepreneur, peter jones, decided he was going to make them an offer .
jessops sells a vast array of lenses suitable for various digital cameras, allowing you to create and capture the perfect picture, every time .
however, members of the jessops’ pension scheme are protected because it was adopted by the government’s pension protection fund (ppf) in 2009 .
gift vouchers are no longer accepted at jessops, nor are returned goods, even if they are faulty. so what are your rights ?
appointed administrator rob hunt said it was an ‘extremely sad day for jessops and its employees’ following unsuccessful discussions with its suppliers to continue trade .
despite additional funding being made available to the company, a decline in the marketplace means jessops has not generated the profits it had planned .
jessops has suffered from years of uncertainty and managed to avoid administration in 2009 by securing a debt - for - equity swap with hsbc .
“i’m convinced the great british public will get behind jessops and look forward to welcoming the first new customers through our doors on thursday. ”
a store that has been trading in nottingham for nearly 200 years is to change its name. look through our photo history of jessops > >
jessops is to return to the british high street after a two - month absence as part of a £5m investment by telecoms entrepreneur peter jones .
jessops had 187 stores in the uk when it went into administration in january 2013. within a matter of days, they were all closed .
a former jessops store in oxford provided a lifeline to oaks menswear - a designer clothes business which has been trading for more than 30 years .
following last week’s collapse of camera specialist jessops into administration and the closure of stores, tiffany holland focuses on the reasons for the retailer’s decline .
some 2000 jobs have been put at risk as camera chain jessops became the first retail casualty of 2013, with store closures
inevitable
.
“jessops is critically dependent on half a dozen suppliers. absent their support it is difficult to see how it could trade, ” he added .
at jessops, it is understood that suppliers were concerned about the health of the electricals sector after comet collapsed. jessops’ own multi - million pound investment in a new modern store format, meanwhile, failed to drive any increase in sales in 2012 on the £236m reported the previous year .
jessops became the first high street casualty of 2013, after a raft of firms fell into administration in 2012, including comet and clinton cards .
a year later, jessops announced it was to open a further 40 stores, creating 400 new jobs and taking the total to more than 250 .
jessops has endured a turbulent time in recent years, with many job losses and store closures following rapid growth. but it all started from humble beginnings…
ailing camera chain jessops is to shut all its 187 stores across the uk with the loss of 1, 370 jobs, it has been announced .
i understand that jessops' bank hsbc had been trying to keep things going, but its suppliers, nikon and canon, kept cutting credit terms .
the move will create up to 500 jobs, and jessops is forecasting sales of over £80m in year 1. optimistic? too early to tell .
thirty more jessops stores are due to re - open across the country as part of a £4 million investment by tycoon and tv personality peter jones .
the company pledged to create 500 jobs with its relaunch - with the majority going to former jessops staff who lost their jobs when the chain collapsed .
camera chain jessops has re - opened two of its stores just a couple of months after going into administration in january with the closure of 187 branches .
this is a very exciting time for jessops and for everyone involved in the company ,
said the company' s chief executive, david hine .
new website launched at the weekend... . it’s been hard work but it looks amazing, jessops photo, the place for all your personalised products
1996: following the retirement of alan jessop, tim brookes leads a £30m management buy - out of jessops, backed by bridgepoint capital and ppm ventures .
jessops took over the newgate street site in 1990 but closed its doors for the last time in january. six months on and the site is still vacant
the company’s directors and main lender hsbc tried to strike a deal with suppliers to ease the financial pressure on jessops but met “irreconcilable differences”, said pwc .
jessops is estimated to have debts of £60m, including £30m of trade debt and £30m owed to hsbc, which the bank is now likely to lose .
in a move to stay competitive on pricing, peter jones has said the new jessops high street stores will match the sort of pricing you’ll find online .
it said that 47 of the stores overlap with other jessops shops in the same area, and three will be relocated, leaving the retailer with 234 stores .
in 2009, jessops managed to avoid administration by agreeing a debt for equity swap with its lender, hsbc, that saw it taken off the stock market .
edward williams, rob hunt and matthew hammond of pwc were appointed joint administrators of the jessop group limited (jessops or the company) on 9 january 2013 .
leicester - based jessops, which has been on our high streets since 1935, has gone into administration, the first big name to go under in 2013 .
“it is apparent that we cannot continue to trade and as a result we have had to make the difficult decision to begin the closure of all 187 jessops stores at the close of business, ” said pwc’s rob hunt. he added that jessops’ stock will be collected over the coming days and taken to a central warehouse .
jessops operated as a family firm until 1996, when it was acquired in a management buyout before it was bought by buyout group abn amro capital abn in 2002 .
2000: jessops attempts to float with a market value of about £95m, but it is pulled because of poor market sentiment during the end of the dotcom boom .
try ordering a bulb for their studio portaflash setups. ordered one in december and it arrived early march. thats why i wont be using jessops in a hurry .
jessops photo store sounds like it is going to be the first victim of the high street in 2013 - retail week says it is about to go into administration .
peter jones acquired the jessops brand when the retailer went into administration in january 2013 and sky reports that the entrepreneur is investing £4m in the relaunch of the brand .
it sells a wide range of digital cameras and accessories, allows customers to develop digital pictures in its stores, and has also introduced jessops branded paper for home printing .
2009: jessops avoids administration by securing a debt for equity swap with its lenders hsbc. the restructuring included writing off £34m of debt in exchange for a 47pc stake .
jessops' historic problems were attributed to buying too much stock and also to an overzealous store - opening programme that put the company under strain when sales collapsed in 2007 .
“the administration of jessops last week has opened a floodgate of administrations on the uk high street and blockbuster is just the latest' zombie’ company to bite the dust. ”
jessops stores across the country could start to close by the end of this week after the struggling photographic retailer collapsed into administration, putting 2, 000 jobs at risk .
another of the british high street’s familiar names collapsed tonight, as every branch of the camera retailer jessops closed down with the loss of more than 1, 300 jobs .
jessops has made a return to the uk high street, as peter jones of dragons' den fame looks to re - open 30 stores along with a new website .
from the end of october jessops is become known as john lewis, at which stage the shop will also open seven days a week. history of jessops jessop and son has been trading in nottingham for nearly 200 years. today' s jessops, which trades on four floors in the victoria centre is a far cry from the little shop at 9 long row, where john townsend opened for business in 1804. in 1860 zebedee jessop, from swineshead in lincolnshire, became a partner in the business and then took control in 1866. in 1897 the lease expired on the long row shop and he moved to recently rebuilt premises at 16 king street. in 1907 zebedee died and his son william took control of the business. the john lewis partnership was looking to expand and on 27 april 1933 jessops became the first john lewis shop outside of london. in 1960 extensive refurbishment and rebuilding started. in 1972 jessops moved into the victoria centre, a new purpose - built shopping complex a few yards up the hill and the first john lewis shop to move into a shopping centre. from the end of this month the jessops name will be no more. look through our photo history of jessops > >
photographic chain jessops was sold by bridgepoint capital to abn amro for £116m. chairman tim brookes, who landed a windfall of up to £5m, is going part - time .
jessops offers a comprehensive range of camera accessories and photography accessories that will enable you to get the most out of your digital camera or photography studio, whatever your photography experience .
the private equity arm of the dutch bank abn amro floated jessops in october 2004 for 155p a share and sold its remaining stake in 2006 for 120p. the emergency deal brokered by jessops' chairman, david adams – who was parachuted in to lead the clean - up – saw shareholders who remained invested receive 1p for every 10 shares they owned .
moore said that jessops was now on a sound financial footing :
i don' t think it gets much more secure than being 47% owned by hsbc. they are committed to a long - term plan for jessops – it is not about a quick turnaround or spin - out. they have written off a large amount of debt .
the website of the relaunched company looks exactly like the old jessops site and i would have expected that the least they could have done would be go for a complete redesign .
jessops, which also annouced that it had extended a loan agreement, expects its full - year pretax loss, before refinancing and restructuring, to be close to £6. 5m .
in 2009, jessops came close to collapse but was rescued by its main lender hsbc in a controversial debt - for - equity swap that saw it taken off the stock market .
2012: the chain suffers the loss of two senior figures. trevor moore quit as chief executive of jessops after three years in charge to join hmv and chairman david adams left .
the collapse of jessops came just hours after online entertainment retailer urltoken said it will make more than 200 redundancies as it closes its retail business to focus on its core “marketplace” activity .
chris edger, professor of multi - unit leader, birmingham city university, has told itv news central the reopening of jessops in birmingham is' great for customers and employees' .
i believe jessops is an iconic british brand which can lead the retail resurgence on britain' s high streets, powered by new innovations and world - leading, expert staff .
dragons' den star peter jones stands outside the jessops store in oxford street, central london, after he relaunched the camera chain in 2013. photo: nick ansell / pa wire
2007: jessops share price falls more than 70% after warning of a half - loss of £8. 5m. david adams (former deputy chief executive and finance director at house of fraser) is appointed executive chairman. in june jessops announces 550 jobs will be axed and 81 of its 315 shops shut down in the wake of its strategic review. the board tells amateur photographer that the chain may have grown too quickly for its own good. jessops chief executive chris langley resigns three months later. finance director ian harris also leaves the firm
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 .
the plan will see jessops stores undergo a revamp, while the company is also investing heavily in staff training, which it believes will be key to its survival on the high street .
despite signs that jessops was turning a corner under the leadership of trevor moore, who left last summer to take charge of hmv, the value of those stakes has now been eradicated .
the high street camera chain has become the latest victim of the economic downturn. jessops staff - past and present - and customers got in touch to tell us what' s gone wrong
mr jones said he believes he will be able to run the business with central costs of £1. 5m a year, against the old jessops business where annualised costs were closer to £8m .
the new owners of the camera specialist jessops are targeting a return to profitability this year as the retailer tries to draw a line under a turbulent period that saw it come close to collapse .
amid fierce price competition from the supermarkets and the internet, jessops lurched from one profit warning to another until matters came to a head during the recession, when it breached its banking covenants .
“given that social media is all about swapping photos on a smart phone, jessops’ market has become specialist, for semi - professional photographers, and that’s not enough to justify a big chain .
since the first buyout, jessops has seen turnover increase from £86. 6m to £287. 1m in 2003. earnings before exceptional items rose from £5m to £17. 1m in the same period .
as well as offering a wide range of digital cameras and accessories, the company provided a service for customers to develop digital pictures in its stores, and introduced jessops branded paper for home printing .
many of the jessops stores were located in london and the south east [ of england ]
, says mark thurstain - goodwin, the founder and md of the data analysts, geofutures .
the administrators to jessops face a battle to rescue any of the company’s 192 shops after leading camera makers tightened the terms on which they sell products to the company following a downturn in the market .
“it is apparent that we cannot continue to trade and as a result we have had to make the difficult decision to begin the closure of all 187 jessops stores at the close of business today .
i visited the jessops website and noticed that all their items are overpriced compared to the competition it seems that the new relaunched reduced company has carried over the same unsuccessful format from the old company .
starting with london and birmingham, jessops will be open for business on thursday 28 march, with four more stores opening over the easter weekend in manchester, aberdeen, high wycombe and st albans .
it has pledged to create 500 jobs with its re - launch - with the majority going to former jessops staff who lost their jobs when the chain collapsed with the loss of 1, 500 jobs .
he said every retailer was having to work out the balance between shops and online. he believes jessops aims to be an online business with a core number of stores strategically placed to give national coverage .
there has been much speculation in recent weeks about the fate of jessops which today reported brisk trading over christmas. though the photography chain has bucked the high street gloom of recent weeks, its results for the year ended 30 september 2008 will not be released until later this month. until then, jessops bosses will not be making any comment on recent trading figures, according to a spokeswoman this morning .
our story attracted comments from jessops staff members both past and present, as well as from consumers, who debated the reasons for its demise and what this means for the future of the high street .
describing the sudden development as “an extremely sad day for jessops and its employees”, administrator pricewaterhousecoopers said even more jobs could be lost in future when the fate of the company’s leicester head office is decided .
although jessops is a recognised high street brand, bringing with it the advantage of familiarity, with online competition from the likes of urltoken often undercutting prices on the high street, the challenge is clear .
mr jones said :
i believe jessops is an iconic british brand which can lead the retail resurgence on britain' s high streets, powered by new innovations and world - leading, expert staff .
when paul crockett got over the shock of losing his job he spotted an opportunity. he' d been working as the manager of a jessops branch in bicester, oxfordshire and knew the shop was profitable .
i was speaking to a gentleman in a (reliable) independent photographic shop today. he mentioned that jessops were in financial dire straits and planning to close a lot of their stores in the near future .
in the space of less than a week, jessops, hmv and blockbuster have called in administrators. the failures could lead to more than 10, 300 job losses and almost 1, 000 store closures .
mr jones, best known for his appearances on the bbc’s dragons den programme, bought the jessops brand, residual stock and certain other assets from administrator pwc as part of a joint venture with restructuring specialist hilco .
with fewer overheads thanks to the reduction of the number of physical locations, jessops still has to encourage people to part with their cash, rather than using the store as a place to browse before buying online .
mr jones said that the new jessops is a business which should be able to deliver £80m of revenue in the first year, but that he hopes it will be making £200m of sales within three to five years .
retail analyst nick bubb said the quality of mobile phone cameras and the popularity of tablets such as the ipad were both detrimental to jessops. “smart phones are getting better and better at taking photos, ” he said .
“i’m taking the helm as chairman and chief executive because i believe jessops is an iconic british brand which can lead the retail resurgence on britain’s high streets, powered by new innovations and world - leading, expert staff .
the company was forced to close its store in the chapelfield shopping centre when it collapsed into administration in january 2013, leading to the closure of all 187 jessops stores and the loss of almost 1, 500 jobs .
the failures of hmv, blockbuster and jessops occurred close together because january is the optimum time for creditors to call in administrators. the shop tills are full of cash and shop stock is at an all - year low .
commenting on latest moves, executive chairman david adams, said :
the strategy allows us to re - position jessops as a true multi - channel retailer, building on our core strengths in the digital imaging market place .
“meanwhile, while the professional market has remained fairly solid many photographers have been content to buy from niche online specialists where prices are cheaper and ranges are more extensive. this has left jessops serving a dwindling number of consumers. ”
“this is an extremely sad day for jessops and its employees. we are very grateful for the support we have received since our appointment and we will continue to ensure that employees are paid as they assist us during the closure. ”
jones is now chairman and chief executive of jessops, after investing £4m in the brand back in februar y after a rocky start to the year which saw the firm go into administration and close all shop s in the same week .
the store opening programme will lead to the creation of some 500 jobs, half of whom will be previous jessops employees who lost their jobs when the retailer’s 192 shops closed in january. the closure led to 2, 000 job losses .
the moon is in its last quarter. during the first and last quarters, the moon’s surface can be observed in the most detail. binoculars and telescopes are great for observing the moon. consider the celestron ps1000 telescope, exclusive to jessops .
the company initially reaped the rewards of the boom in digital cameras, investing heavily in digital technology as the medium took over from traditional film, and by 2001 the number of jessops branches on the high street had swelled to more than 200 .
“image is everything, and even in the mobile and tablet era, there’s no substitute for a quality camera when it comes to taking the perfect picture. jessops’ hallmark expertise and customer service will now be available again to customers across the uk .
jessops offers an extensive range of photography products including digital cameras, action & video cameras, lenses, camera accessories, drones, binoculars and telescopes from top brands including sony, nikon, canon, olympus, fujifilm, pentax, dji and more .
electronics, no less in the photography area, is a highly competitive segment of the retail sector, whether shop based or internet, and if jessops is to survive then they have to have something extra in terms of their offer to the public .
my experience with jessops is that as they' ve expanded they' ve lost the in - store experts that could have guided you through a purchase or could actually speak the language of a photographer. when you' re going to spend several hundred pounds on a new lens you want to be able to talk to someone who has used that lens, or even one who just understands a bit about exposure. sadly jessops hadn' t invested in staff training. i was in the market for a new zoom last summer and went to jessops, but none of the staff could tell me any more about the lens than what was on their website. nor had any of them used it. in the end i went to a camera specialist on the internet and chatted to the sales person for a good long while, i was pointed to useful resources on their site, spoke to another user of the lens and so on. it was like the jessops of old. this company might have survived with more imaginative management - why not offer masterclasses with local photographers and photography clubs in the style of the apple classes? a crying shame for those people who are about to lose their jobs. thanks to those with jessops who helped me get into photography .
ever since the retailer was floated in 2004 by abn ambro capital with a value of £160m, jessops’ camera sales have been under pressure from the rise of the internet, smartphones, and retailers such as tesco moving into the digital cameras and accessories market .
“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 .
without the jessops being open in some of the neighbouring towns and cities like banbury and oxford, we are getting a lot of people travelling good distances because we do what they can' t find in their own towns now ,
says mr peckham .
in 2010, mr moore said: “i don’t think it gets much more secure than being 47 per cent owned by hsbc. they are committed to a long - term plan for jessops - it is not about a quick turnaround or spin - out. ”
the shop is one of 77 former jessops stores that have either reopened, or are in the process of doing so, since the camera chain collapsed six months ago, research by bbc radio 4' s consumer affairs programme, you and yours, has revealed .
high street camera chain jessops became the latest retailer to fall victim of the ongoing economic downturn, and fell into administration on wednesday. up to 2, 000 jobs are at risk, with administrators pricewaterhousecoopers admitting that at least some of the 192 stores would close .
jessops, which opened its first shop in 1935, becomes britain’s first high street casualty of 2013. as recently as 2009, the company sidestepped administration after securing a debt - for - equity swap with its lender, hsbc, after a litany of profit warnings .
jessops shareholders were wiped out last year as hsbc gained control of the retailer after a lengthy restructuring. the bank now owns 47% after agreeing to write off £34m of debt. the most recent figures available show a loss of £13m for the six months to 29 march 2009 .
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 ,
mr hunt said .
it makes you think how much money they are making on one lens when you see the difference in price. jessops are £204. 00 more in price than pro camera shop urltoken, yet pro camera shop urltoken must be making a profit at £594. 00. this is why these places closed in the first place. maybe you should go onto
dragons den
and sell the idea of buying of buying a lens from pro camera shop urltoken and sell it at jessops for a substantial
mark up
. i wonder if peter jones would be interested lol .
the jessops brand itself was bought by a consortium including the businessman and star of tv' s dragons' den, peter jones. so far they' ve reopened 25 of the stores, targeting large towns and cities within easy reach of lots of potential customers to complement their online business .
jessops, the uk’s largest and most prominent high street camera retailer, will be closing down all 187 of its stores today. the chain went into administration several days ago, with pricewaterhousecoopers taking up duties to try and find a buyer for the troubled company. a total of 1, 370 jobs will be lost as a result of the store closures, but further jobs could be at risk at the company’s headquarters in leicester. anyone expecting a flood of cheap cameras will be in for a disappointment, however: all of jessops’ stock will be rounded up and returned to central warehouses .
jessops approved used camera specialist camera jungle has been selling camera equipment to thousands of happy customers for the last 4 years. all of the camera jungle' s staff are passionate photographers and all their cameras, lenses and flashguns have been lovingly serviced by experts and come with a 12 month guarantee .
but with the opening of the first two shops on thursday, march 28, followed by a further four over the easter weekend, and then 30 more by the end of april, mr jones is intent on re - establishing jessops as a multi - channel retailer with a national high street presence .
with jessops chargeing 35pounds for their own 256mb memory card you can a brand name sandisk 1gb for 9. 99 do you ever wonder why they cant make a profit. as sandisk are a quality brand. re jsp share price 5. 35 to 7. 13p is on the cards fpr thursday. !
moore said jessops' sales were being boosted by the advent of a new breed of kit, the compact system camera – for example, the olympus pen, promoted by the actor kevin spacey in a recent advert. the camera is a halfway house between a standard digital camera and more expensive slr models .
i used to work at jessops. the reasons it led to this were because they can' t compete with amazon and other online stores and also they opened too many new stores and refurbished others too much. they effectively increased costs but saw revenue barely increase. i feel for the staff and my former colleagues who are some of the best people i know but upper management i. e. the directors and board members made ridiculous choices. for example a £1 million (rumoured figure) refit of their new oxford street branch only a few years after a previous refit during a time where money is tight was a completely wrong idea. however i don' t think they will go under. canon and the other camera manufacturers may bail them out by buying shares from hsbc (who own jessops) because jessops is a major launching platform for new cameras and accessories. if they go under the manufacturers will not be able to display and demonstrate their new products (with the exception of events etc) and thus sales and profit in the long run might be affected. either way i wish all the jessops staff (except upper management of course) the best and hope that whatever happens everything will work out for them .
with jessops reopening i checked to see what price they want for the sigma 150 - 500mm lens it came up at £799. 00. i have just paid £594. 00 no postal charges, for that lens new from pro camera shop urltoken. (there are people paying almost that for a used one on ebay). it was posted from crawley east sussex and i received in less than 48 hours. i must say i was very pleased with the price and the service and i will allways go to them first. so i think jessops will have to look at thier pricing if they are to succeed .
© 2018 urltoken | technical specifications for guidance only and cannot be guaranteed accurate. errors and omissions excepted. urltoken is a trading name of jessops europe limited, a company registered in england and wales, company number 08384909. the registered office address is network house, globe park, marlow, sl7 1ey, united kingdom .
thank you for the replies. (i managed to save £40 on my new 400d just by waiting a day i was wondering where most people here buy their camera equipment. being fairly new, i have only heard of jessops and a couple of other stores but i' d be very interest to learn of other good (and inexpensive) shops or wesbites .
despite my above complaints, i' m looking forward to the following few weeks; it' ll be a whole new experience for both my career and myself, and i am prepared for an onslaught of customers. with that in mind, if you were given something to be claimed by jessops, like a gift card, whatever you do, please don' t be an asshole. this is a big opportunity for the whole' do unto others' thing. i have no answers, only facts and figures. i will not be able to do a lot from behind my till, so from one anonymous jessops employee to you, please be reassured when i say i' m already doing anything and everything that i can .
recently jessops have issued profits warnings and their share price has dropped due to sales not meeting targets. obviously if that continued, they would need to streamline, but i' ve not read any reports thus far that suggested such a move was actually going to happen. the digital camera market has grown substantially in recent years, but pricing is ultra competitative. you can normally get a better deal from one of the big online retailers unless you can persuade your local jessops to price match. some will, some won' t. some small retailers are equally threatened as canon have stopped suppling unless they have a reasonable turnover and can order in reasonable quantity. one could argue that is fair enough - a local high street retailer near where i live was still selling canon eos 500n after the 300v had some out (the model had been replaced twice over). there are plenty of threads on here about jessops and their varied levels of service and pricing. just do your homework on the price beforehand to ensure you don' t get charged too much and if they won' t price match walk away. jo
2009: fears that jessops may have suffered from a christmas spending slowdown are dispelled with news that the photography chain reported a 3. 1% increase in like - for - like sales for the five weeks to 5 january. however, sales for the 14 weeks to 5 january were down 5. 6% , the firm says in a statement issued on 9 january .
thank you for the replies. (i managed to save £40 on my new 400d just by waiting a day :) i was wondering where most people here buy their camera equipment. being fairly new, i have only heard of jessops and a couple of other stores but i' d be very interest to learn of other good (and inexpensive) shops or wesbites .
i am a manager of a small branch of jessops, and my little store is (was, or may continue to be, who knows ?) doing a roaring trade. there' s been lots of talk on the news about where jessops went wrong. but in my opinion it did not put a foot wrong. the new team that took over back in 2009 did all it could to embrace the new consumer habits, with a real push on the buy on line then collect at store process. jessops never made money on hardware, and always treated cameras as loss leaders in order to get the customer in the shop so we could sell the margin rich products like memory cards, bags and the like. there was a huge emphasis on the photo printing side of the business, with large format in store printing now widely available, very cheap and of superb quality. my store does well because we were very' local', and as manager i was able to aknowledge that the customer could by cheaper on line, while gently reminding them that a comprehensive aftercare was worth paying that little bit extra for .
ahead of the refinancing, a hundred stores were closed, leaving the chain with 210 outlets, which moore said was a good number for the time being. he added that the difficulties faced by shopping centre owners, who have seen numerous tenants go bust during the recession, meant that jessops was being offered better deals on its rents, which in turn could lead to more new stores being opened .
the chain has struggled with financial problems for years, but it looks like jessops has finally succumbed to competition from online retailers. it isn’t the only uk company that has been hit hard recently either: electrical retailer comet also entered administration in november and shut down its stores just before christmas. more recently, urltoken announced that it would be shutting down its sales unit following the closure of a tax loophole .
jessops plc will likely continue to be listed and shares trade, as a' shell' company with no tangibles. all tangibles will go to newco. not sure if jessops name will go too, in which case the listed shell will have to change name. depending on the cost of a lse listing, it has some value - it may cost £2m to bring a company to market, making this a good buy for someone about to list. there will also likely be considerable carried forward tax losses, available to anyone reversing into the shell. i can only assume tody' s buyer is the company looking to list, or those who know the value of the tax losses and lising costs. i' m not sure but the share price implies it could be worth £2m + to a company looking to float .
this would suit jessops down to the ground, after the recent take overs they have done... good excuse to close a lot of the
extra
highstreet stores. god in glasgow they got 3 stores on the one street never mind the one town, all within a few mins walk. i think they got about 7 in glasgow alone. only a matter of time before they cull the numbers.
jessops europe limited is a british photographic retailing company . it was established in leicester in 1935 , by frank jessop , and traded under the name of the jessop group limited . the business entered administration on 9 january 2013 , and all 187 jessops retail stores ceased trading on 11 january 2013 , until the british entrepreneur peter jones cbe invested several million pounds into the company , and formed jessops europe limited . on 28 march 2013 , six stores reopened , and jones aimed to open a new store every day on average during april 2013 . the relaunch of the oxford street store in london received considerable media interest , and was attended by several celebrities , including the actor james corden . as of april 2016 , there are now fifty two stores of jessops , and since july 2014 , sainsbury 's has started rolling out jessops branches in its larger stores . 
jessops europe limited is a british photographic retailing company. it was established in leicester in 1935, by frank jessop, and traded under the name of the jessop group limited. the business entered administration on 9 january 2013, and all 187 jessops retail stores ceased trading on 11 january 2013, until the british entrepreneur peter jones cbe invested several million pounds into the company, and formed jessops europe limited. on 28 march 2013, six stores reopened, and jones aimed to open a new store every day on average during april 2013. the relaunch of the oxford street store in london received considerable media interest, and was attended by several celebrities, including the actor james corden. as of april 2016, there are now fifty two stores of jessops, and since july 2014, sainsbury's has started rolling out jessops branches in its larger stores.
jessops europe limited is a british photographic retailing company. it was established in leicester in 1935, by frank jessop, and traded under the name of the jessop group limited. the business entered administration on 9 january 2013, and all 187 jessops retail stores ceased trading on 11 january 2013, until the british entrepreneur peter jones cbe invested several million pounds into the company, and formed jessops europe limited. on 28 march 2013, six stores reopened, and jones aimed to open a new store every day on average during april 2013. the relaunch of the oxford street store in london received considerable media interest, and was attended by several celebrities, including the actor james corden. as of april 2016, there are now fifty two stores of jessops, and since july 2014, sainsbury's has started rolling out jessops branches in its larger stores.