Shropshire jobs at risk as Jessops call in administrators
Staff at Shropshire’s three Jessops stores fear for their jobs after the national camera chain went into administration today.
Jessops, employs around 2,000 staff across the country in 192 stores. The chain has two branches in Shrewsbury and one in Telford.
Administrators PricewaterhouseCoopers said that it was "inevitable" some stores would have to close.
Jessops, had a turnover of £236million last year but suffered a significant decline and forecasts for 2013 were that it would continue.
Tough trading in the run-up to Christmas meant it had “not generated the profits it had planned”.
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.”
Jessops is no longer honoring customer vouchers or to accept returned goods.
