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

14:30 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.

0 comments

More news stories

Yesterday, 18:00
Herts Advertiser comment

We all know how well local students perform in their A-levels, so why don’t their schools want to celebrate their success?

Yesterday, 12:00
Will was greeted by friends and family in London when he completed the route

A passionate fundraiser has cycled more than 1000 miles to raise awareness about depression.

Yesterday, 06:06
Cllr. Malcolm MacMillan, Chairman of London Colney Parish Council, Mrs Irene Casper Parish Clerk, Mr Daniel Du Gard, Community Manager Groundwork Hertfordshire

It was a real love match when newly-refurbished village tennis courts were officially reopened.

Saturday, August 27, 2016
Elizabeth's Friends London to Paris bike ride team

A group of six St Albans women have cycled 348 miles from London to Paris to raise money for the Alzheimer’s Society.

Education

Thursday, August 25, 2016
Students achieve record results for third year in a row

Students at Nicholas Breakspear Catholic School in St Albans have achieved record results for the third year in a row.

Read more

St Albans Sinkhole News

Wednesday, August 17, 2016
Bernards Heath playground

Uncertainty over the long-term stability of a playground near St Albans’ sinkhole has resulted in the site being temporarily closed for further investigations.

Digital Edition

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

Newsletter Sign Up

Sign up to the following newsletters:

Most read stories

Local business directory

Hertfordshire's trusted business finder
HOT JOBS

Show Job Lists

Herts Most Wanted Herts Business Awards