News |Jessops files for administration

Jessops files for administration

Jessops files for administration
News

According to a report in CityAM, Jessops, the high-street photographic retailer, has filed for administration putting the future of 17 stores and 120 jobs in doubt.

Jessops owner, Dragon’s Den star, Peter Jones is said to have filed a notice to appoint administrators.

Jones bought the chain of stores in 2013 and has navigated some tricky times but it seems that the current pandemic has proved a step too far.

The retailer has hired FRP, the insolvency specialists, and is said to be considering a Company’s Voluntary Arrangement (CVA) restructuring process in a bid to protect its long-term future.

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