Jessops to Close All Stores

From BBC News:

High Street camera retailer Jessops is to shut all of its stores, resulting in the loss of about 1,370 jobs.

Administrator PricewaterhouseCoopers (PwC), appointed this week, said all 187 stores in the UK would shut at the end of trading on Friday.

More jobs would be lost at the head office in Leicester, it added.

Jessops became the first High Street casualty of 2013, after a raft of firms fell into administration in 2012, including Comet and Clinton Cards.

PwC was appointed administrator on Wednesday, and at the time said there might be some store closures.

It came after talks this week between Jessops and its lender and suppliers broke down after a poor Christmas.

The camera chain was founded in Leicester in 1935 by Frank Jessop.

In recent years, it has been hit by increasing competition from supermarkets and internet retailers.

Rob Hunt, joint administrator at PwC, said it was an "extremely sad day for Jessops and its employees".

Read the entire article here. (thanks Dean)