Are Jessops Going Under????

Chaz Photos said:
How is it the entire company when it been split up which part do the bank own?
I guess this is why Sigma will not supply them
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THe PLC will have offered security against the banks debt. This will have been some kind of fixed and floating charge over all assets of the company. Instead of calling in the debt, and winding up the co, the bank have taken control of there security - i.e. the trading business.

The Entire of the company will have been moved to Snap Equity. But the shell of the old company remains, as they have shareholders, and possibly some other assets that may not have been taken as security, possibly some smaller ltd companies.

This meeting is to wind up the shell of the PLC.

So you could argue that Jessops were going under, but rescued by the bank.

No idea why they are not stocking Sigma though.
 
lawrie29 said:
No idea why they are not stocking Sigma though.
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Because Sigma had this crazy idea that they should be paid for goods they supplied, rather than, as it looked at the time, joining a huge list of creditors to eventually get 2p back on the pound should Jessops go bust....
 
Flash In The Pan said:
Because Sigma had this crazy idea that they should be paid for goods they supplied, rather than, as it looked at the time, joining a huge list of creditors to eventually get 2p back on the pound should Jessops go bust....
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That'd be it then:D
 
I stumbled across Jessops this week whilst on vacation in London. I was suitably unimpressed, though to be fair, I didn't expect the staff to know what a Nd400 filter or a Delkin big fat gecko is. In fact I was told was what you see is what you get. The staff managed to lose a sale on either a 7d or 1d as they couldn't explain the difference to a customer who had the cash as hand. The best advice they did have for me was to try Jacobs across the road, who in fact did know what I was talking about. As stated in this thread, that is the danger with chain stores, though perhaps they should be recruiting from recognised photo schools to staff their stores. That would perhaps not remedy the problem but at least result in more passionate salespeople.
 
Just been in there today they was very quick in serving me so i can't falt them on that. They always are at ours.

I asked them about going under with part of it been removed from the stock market. As far as they know including the manager who a had a chat to it's not going to happen, some of the things going about is bacause HSBC have baught 46.3% shares in them to secure there future.
 
Today I bought a DSLR from Jessops. The young lad who served me was great. They only had an ex-display in stock so I asked if they could do anything with the price. He had to wait for the Manager to ask. Fair enough he was with another customer who was purchasing a DSLR and lenses. When the Manager was free, he knocked off fifty quid which I was grateful. But he was so glum, not a smile, not even any eye contact. Felt he could've set the same example as the young Salesman did.

I have had both good and bad experiences at my local branch. (Ipswich) Today's experience was a little dissappointing thanks to the gloomy Manager.
 
HSBC have baught 46.3% shares in them to secure there future.
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The last people to ask if a company is going under is the staff, they will be the last to know.

HSBC have not bought the shares they have done an equity swop and wrote of some debt.

My guess is that Jessops will contine to trade to pay off the ourstanding debt to the bank , when the banks exposure to the debt is politically acceptable they will asset strip the busines and close the doors.

A cursory look in Decembers Practical Photography Magazine indicates the future of photographic retail , Amazon and other huge players are moving in to the volume market and hobbyist market.

I am afraid that the sun is setting on Jessops I pretty much beleive that they will be gone by the forth quarter of 2010:wave:
 
Merc said:
I've just bought a D700 from Jessops. List price £1799 but got it for £1699.
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Can I ask how you got the extra £100 off?
 
I hardly shop at Jessops, not since they stopped doing P/X's
However, I did manage to get an 8GB Extreme III for £5.20!
Nonetheless, every time I do go they seem to stock less and less and their staff get younger (or is it me getting older?) Who knows/ who cares?
 
I went into Jessops at Norwich last week (the 1st time in several months) the store was almost empty of racking and shelfs. The glass displays were also empty and they have stopped selling Nikon.

Was was more worrying was when i asked if they had a Nikon 70-200 they said 'No' but they had a 70-300 VR which in there words was 'Very Similar'

I then voted with my feet.
 
They have opened up a franchise in WH SMiths in the Arndale centre, Manchester which has a few bits and peices. I think this will be the way forward for them, stocking specialist items in a another shop which has a reasonable footfall and not just people who want a camera/ pictures printing to go into the shop. However it does mean they cannot hold as much stock.
 
Holden Caulfield said:
The last people to ask if a company is going under is the staff, they will be the last to know.

HSBC have not bought the shares they have done an equity swop and wrote of some debt.

My guess is that Jessops will contine to trade to pay off the ourstanding debt to the bank , when the banks exposure to the debt is politically acceptable they will asset strip the busines and close the doors.

A cursory look in Decembers Practical Photography Magazine indicates the future of photographic retail , Amazon and other huge players are moving in to the volume market and hobbyist market.

I am afraid that the sun is setting on Jessops I pretty much beleive that they will be gone by the forth quarter of 2010:wave:
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Yeah it seems HSBC wrote off £34m of debt, I reckon that by closing the stores they have and remaining competitive on price they can keep operating but with a much smaller visibility on the high street, so maybe 1 store in each town instead of 2-3 like they seem to have!

I reckon their future probably lies in the Jessops.com website, although I would be sad to see them go as I like to go in a see products in the flesh rather than ordering blind online.
 
in shrewsbury we have 2 jessops the one on the high street is ok but the staff are not as knowledgeable as the one hidden away
the high street one will recomend that you go to the other for better advice lol
 
Well I popped into mine on NYE to pick up all the cheap bits from there sale. Easily over 20 customers, and with the staff I dealt with, very knowledgeable on the products I was asking about!! Good stuff from the Worthing Branch.
 
henryf4 said:
I went to jessops on boxing day (moorgate branch) to have a browse, the number of staff outnumbered me 5 to 1.

None of them made any efforts, they were standing around looking at the dust gathering on the floor.
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Sounds like any Jessops, our local one just want to have a laugh and chat, you could walk in help yourself and walk out and they still would keep chatting...
 
My local jessops is a bit of a joke TBH.

No one ever answers the telephone....ever!
The printers are collaberated once per day, so any prints after the first run are off colour (a picture of my niece left her with a green face!!)
People are generally unhelpful and not bothered about the customer.
There seems to be a huge lack of knowledge on the product that they're trying to sell.
They sell display models at full price (no ta!)
 
Hang on a sec-Let me just get my asbestos suit out..
Think i may need it..
I actually quite like the local Jessops.
Sure-some of their sales staff aint exactly knowledgeable,but as said before,long gone are the days of walking into high st shops and getting staff passionate about what they selling..
The manager is however very helpful,and seems to know his stuff.
Has helped me out with various issues,including spending half an hour chatting about studio lights,and educating me on what can,and cant be done etc..
Although the young assistants are clearly out of their depth-He always makes himself available to help them out and expand their knowledge...
So strange *** it may seem in this thread...
Jessops gets a +1 from me!
 
Jessops problem is that they carry virtually no stock and this is one of the reasons a lot of people have been suggesting they might go out of business.

They're the PC World of the camera world.

I peeves me that A J Purdy went bust after 70 years and Jessops have survived - so far.
 
I too have a soft spot for Jessops 6 weeks ago I bought a sigma 100-300 f4 lens which they wrongly priced on their web site as £599 instead of £1230.
Because they debited my card they agreed to honour the error price.
Christmas came early and kudos for Jessops.
Dave
 
nikonuser said:
I bought a sigma 100-300 f4 lens which they wrongly priced on their web site as £599 instead of £1230.
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And you couldn't tell the rest of us? :D
nikonuser said:
Because they debited my card they agreed to honour the error price.
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Legally, they have no choice if they've already taken payment.
 
I have to say that my local jessops is a godsend. There can't be another camera shop of any description for at least 50 miles. The manager seems to be good guy, he's given me some good deals on various things. While some of the staff hardly don't know the first thing about cameras, they're probably part-time staff on £6 an hour and you wouldn't expect them to, would you? They're really only there to serve customers with their prints etc.

If you need to know more about something you could always ask to speak to someone more senior.
 
ali g said:
So might be lucky ........ that was for a canon one i think
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Bummer, the Nikon one is full price... But, at that price, it might be worth buying some Canon glass and sticking it up for sale "as new", make a bit of a profit. ;)

Hmmm, what if I buy the Canon one, then take it back and say "my bad, I got the Canon one by accident when I shoulda got Nikon, just switch it out for me, there's a good chap" :p
 
Kaouthia said:
And you couldn't tell the rest of us? :D

Legally, they have no choice if they've already taken payment.
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I was not a member of this Forum when I found the bargain, had I been then I would have spread the message, as I did on www.nikonuktalk.com which is a new site recently set up for Nikon UK users of which I am a member.
The £599 price is for the Canon fit. If you check out Jessops they have the Nikon fit one for £1230 when I last checked.
Dave
 
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Kaouthia said:
Bummer, the Nikon one is full price... But, at that price, it might be worth buying some Canon glass and sticking it up for sale "as new", make a bit of a profit. ;)

Err!! I see you're no finance guru then.....LOL

Dave
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nikonuser said:
Err!! I see you're no finance guru then.....LOL
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I'm sure they'll eventually realise the mistake, fix it, and an unopened "as new" one will sell for more than Jessops current price. ;)
 
It's not a mistake as far as I know. That price has been there for a while.

As far as I remember they are stopping dealing with Sigma and therefore are selling off most of their stock cheap.
 
MagicMynx said:
My local jessops is a bit of a joke TBH.

No one ever answers the telephone....ever!
The printers are collaberated once per day, so any prints after the first run are off colour (a picture of my niece left her with a green face!!)
People are generally unhelpful and not bothered about the customer.
There seems to be a huge lack of knowledge on the product that they're trying to sell.
They sell display models at full price (no ta!)
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Who are the printers collaberating with. :LOL: ;)
 
barneyrubble said:
As far as I remember they are stopping dealing with Sigma and therefore are selling off most of their stock cheap.
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Perhaps that's why just the "special order" ones are full price. They're trying to unload all their old stock cheap to pay off the bills, but Sigma want paying in full for future orders?
 
As barneyrubble says the price for the Sigma Canon fit has been at £599 for some time. What I did was to phone them and ask the price of the Nikon fit. They also quoted me £599, then I asked them why other retailers (through www.camerapricebuster.co.uk) were selling at £1100+.
The guy from Jessops said that their web people set the prices they just take orders so I ordered one.
A week later they phoned me to said that there had been a pricing error should have been £1230 but they would honour the error price......the rest is history.....It was a special order which took 4 weeks to deliver.

I have no idea why there is such a price variation between the Canon/Nikon fit.
Dave
 
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I bought a Sigma 12-24 for 365.00 from Jessops, but I had 2 and neither would focus right so I suspect that they were old stock/returned items that they were trying to get rid of.
 
Not exactly breaking news, but the voluntary liquidation that Jessops is about to go through, As far as I can gather, means that after HSBC pocketed the 34m debt in return for assests it left Jessops with nothing but a sinking share price as the assets are now handled by Snap. Effectively it will just be a de-listing of the company.

Or you can read it yourself here, http://www.amateurphotographer.co.u...eek_Firm_reassures_customers_news_293856.html
 
It NOT Jessops, it's Jessops PLC that you're talking about m8. Jessops the high street shops is a different entity, it even says so in that article you linked to.
 
Sorry, thought in the context it would be apparent. I also missed the PLC off HSBC! What a day hey?
 
The point is they are not the same company, as the article pointed out, Jessops high street shops was sold off (as Jessops) some time ago. Jessops is not being liquidated though to be fair to you, even AP got that wrong in the article.
 
zoom said:
I peeves me that A J Purdy went bust after 70 years and Jessops have survived - so far.
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Indeed, I had the opportunity to meet one of the owners shortly after, apparently/allegedly we can blame canons finance dept for pulling the plug on the credit line, allegedly for little to no reason, obv that may be a biased opinion ;)
 
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