Administrators called in to save photo firm Jessops

By Harriet Ernstsons Thursday 10 January 2013 Updated: 10/01 16:03

THE REDDITCH branch of a photographic company could be at risk after administrators were called in.

PwC took control of The Jessop Group Limited, which has a newly refurbished Jessops shop in the Kingfisher Shopping Centre, on Wednesday (January 9) after the company hit financial problems.

A statement released by administrators said turnover at the 192 stores during 2012 was £236 million but there had been a significant decline in the 'core marketplace' during the year and forecasts for 2013 indicated that was likely to continue.

Additional funding was made available but a lack of custom in the run up to Christmas meant the company had not made enough profit.

Joint administrator Rob Hunt 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 but it is critically dependent on these ongoing discussions. However, in the current economic climate it is inevitable that there will be store closures."

The store is currently not able to take customer vouchers or accept returned goods.

Popular »

1 Commuters back on track with railway opening

2 Music night organised by cancer survivor

3 Men charged with ram raid on Redditch business

4 Miracle baby's name inspired by hospital

5 Disc-over a bargain

More news »

Redditch Jessops to close

REDDITCH staff are among more than 1,300 workers

Feature: How county treats mental health

MORE than a quarter of people will experience

Commissioner faces fresh call to resign

POLICE and Crime Commissioner Bill Longmore is facing

Toy donation is thanks for wonderful care

THE FAMILY of a little girl who battled

Regional news »


Bromsgrove Standard
£7,000 worth of power tools taken in Wychbold burglary

A TOTAL of 26 power tools worth more than £7,000 ...

Worcester Observer

Visit the Worcester Observer website for the latest.

Stratford Observer
Morrisons staff cycle round the world in 48 hours

IT was olé and away as staff at Morrisons Stratford ...

Evesham Observer
Unprovoked assault on Vale jogger

WITNESSES are being sought following an unprovoked assault on a ...