Staff at Jessops in St Albans wait to learn fate as firm goes into administration

PUBLISHED: 14:30 10 January 2013 | UPDATED: 14:31 10 January 2013

Jessops situated in The Maltings Shopping Centre

Jessops situated in The Maltings Shopping Centre

Archant

JOBS are under threat at high street camera chain Jessops after it fell into administration yesterday (January 9).

The retailer, which has a store in The Maltings Shopping Centre in St Albans, has been forced to call in administrators PricewaterhouseCoopers (PwC) following a “significant decline” in its core market last year.

The firm employs around 2,000 people across its 192 stores in the UK, some of which PwC has said will inevitably have to close.

Rob Hunt, joint administrator at PwC, said: “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.”

Reduced confidence in UK retail reportedly caused Jessops’ position to deteriorate in the run-up to Christmas, and forecasts for 2013 indicated this decline would continue.

Currently gift vouchers and returned goods are not being accepted.

More news stories

3 minutes ago

Young animal abusers who starved a St Albans dog have been banned for life from owning pets.

Yesterday, 20:00

St Albans’ £7.75 million new museum has been shortlisted for a national construction award.

Yesterday, 19:16

A 60-year-old Vauxhall Corsa driver was pronounced dead at the scene of a crash on the M25 near Junction 24 for Potters Bar last night.

Yesterday, 17:00

The St Albans Memory Café has reached a regular attendance of 50, despite having only launched in May.

CountryPhile

Harpenden’s MP has pledged to fight for farming, financial services, and Rothamsted Research as parliament begins debating Brexit.

Digital Edition

Image
Read the The Herts Advertiser e-edition E-edition

Local business directory

Hertfordshire's trusted business finder
Zoo Watch CountryPhile

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Most read stories

HOT JOBS

Show Job Lists

Herts Most Wanted Herts Business Awards