11 Jan 2013 16:25
Edward Williams, Rob Hunt and Matthew Hammond of PwC were appointed joint administrators of The Jessop Group Limited (Jessops or the Company) on 9 January 2013.
Rob Hunt, joint administrator and partner PwC said:
"Since my appointment, we have reviewed the position of the business and held extensive discussions with suppliers around their support for ongoing trading.
“It is apparent that we cannot continue to trade and as a result we have had to make the difficult decision to begin the closure of all 187 Jessops stores at the close of business today.
“Regrettably, this will result in around 1370 job losses across the stores with further job losses likely, in due course, at the head office in Leicester.
“The stock will be collected over the coming days and returned to a central warehouse. It will be returned to suppliers if they are entitled to it. As a consequence of the closure, Jessops is no longer able to accept returned product from customers.
“This is an extremely sad day for Jessops and its employees. We are very grateful for the support we have received since our appointment and we will continue to ensure that employees are paid as they assist us during the closure.”
Updates for consumers will be available through the Jessops and PwC websites shortly at www.pwc.co.uk/jessops
Notes to Editors:
Our original release referred to 192 stores. However, five stores were closed after Christmas but prior to the appointment of the administrators. These were Torquay (4), Tamworth (4), Weston super Mare (5), Hereford (6) and Walsall (4). The number of jobs affected by these closures is given in brackets after each one.
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