Jessops, a national photographic chain in the UK is reportedly going to call in the administrators;
https://www.bbc.co.uk/news/business-50066623
The chain collapsed in 2013 with significant debts. 187 stores closed and 46 stores were rescued.
However profits in 2018 were said to be £10k, with rental costs having increased significantly since 2017. It looks like a potential prepack admin deal may result in the chain surviving subject to landlords taking a haircut on rents.
It perhaps illustrates the difficulty of operating high street shop based retail in the photographic market and is probably the largest camera chain left in terms of stores (LCE with 28 being next in terms of store numbers). Higher rents and operating costs in a business under significant squeeze on prices from internet operations.
https://www.bbc.co.uk/news/business-50066623
The chain collapsed in 2013 with significant debts. 187 stores closed and 46 stores were rescued.
However profits in 2018 were said to be £10k, with rental costs having increased significantly since 2017. It looks like a potential prepack admin deal may result in the chain surviving subject to landlords taking a haircut on rents.
It perhaps illustrates the difficulty of operating high street shop based retail in the photographic market and is probably the largest camera chain left in terms of stores (LCE with 28 being next in terms of store numbers). Higher rents and operating costs in a business under significant squeeze on prices from internet operations.
