Jessops in Administration

[ajuk]

Anybody know what's likely to happen to the stock being that they've already shut?

[dreamingartemis]

Well, I'm guessing the creditors will get first picking followed by the second tier creditors and so fourth. In short, the vultures...

[Ian Grant]

I think you'll find the stock mostly going back to the suppliers. they set stiff terms last time Jessops went bust and was sold for peanuts.

Ian

[ajuk]

They went bust before?

[Ian Grant]

They went bust before?

2009 they were on the point of going into administration and managed to do a deal with their bank who took control of the company and supposedly restructured but they got worse not better.

Ian

[benjiboy]

I would think the liquidators would return the unpaid for stock to the suppliers, and sell off the remaining stock within the trade to help pay the companys creditors.

[ajuk]

So were unlikely to get any cheap film?

[benjiboy]

So were unlikely to get any cheap film?

You aren't going to get any cheap anything.

[railwayman3]

I would think the liquidators would return the unpaid for stock to the suppliers, and sell off the remaining stock within the trade to help pay the companys creditors.

My impression in the last few months was that the two shops which I see regularly were holding a minimum stock....no doubt a sign that suppliers were not prepared to release large amounts of stock on credit. It is also often usual for suppliers to reserve title to stock, in which case it can normally be claimed back if not paid for.

[oreston]

I don't really know why people have discussed the fate of Jessops so much on a forum devoted to film-based photograpy. Despite the company's undoubted historical legacy, they weren't in the analogue market in any meaningful way for the last several years.

Yes, most people were always going to move to what they deemed the "good enough" image making capabilities of their cameraphones, but Jessops abandoned their traditional market: the dedicated amateur photographer (or at the very least least the dedicated amateur who didn't want to migrate entirely to digital). With that, they threw out the baby with the bath water. They would have had to downsize considerably regardless, but they abandoned any semblance of a unique selling point to distinguish them in the mind of the buying public from Amazon in terms of what they could provide. I think the writing was on the wall for at least the last five years.

I was a customer myself for a long time and so, yes, I'm sad. But let's be realistic: Jessops had already been effectively dead for years.