Jessops Share Price falls below £0.01

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timr

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Looks like bad times ahead.

Does anyone know if a company that goes under is legally obliged to honour an extended warranty period?

Personally I sincerely hope that Jessops continue trading as I have always had good experiences with them, but no one can deny that it doesn't look good for them at the moment.

Thoughts?
 
The share price has been hovering around £0.085 for a while now - we should all chip in a tenner and buy the company :LOL:
 
Flash In The Pan said:
The share price has been hovering around £0.085 for a while now - we should all chip in a tenner and buy the company :LOL:
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And take on all that debt too? No thanks! I'll just take the stock please... :)

Ah yes, just looked at the share price graph. Old news I see.
 
If it's a Jessops Warranty you're goosed. :thumbsdown:

On the other hand if it's an insurance type extended warranty that Jessops buy in and then resell for a profit, you're ok as any claims will be dealt with by the insurance Co. (y)
 
admirable said:
If it's a Jessops Warranty you're goosed. :thumbsdown:

On the other hand if it's an insurance type extended warranty that Jessops buy in and then resell for a profit, you're ok as any claims will be dealt with by the insurance Co. (y)
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I'll have to read the t&c's I suppose. Thanks for the info.

Edit: Foodpoison - Personally I think it'd be silly for anyone to be making jokes about administration/redundancy at the moment - I can't imagine too many professions out there that are truly 'safe'. Scary times.
 
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timr said:
I'll have to read the t&c's I suppose. Thanks for the info.

Flash In The Pan - Personally I think it'd be silly for anyone to be making jokes about administration/redundancy at the moment - I can't imagine too many professions out there that are truly 'safe'. Scary times.
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You're right, it was in poor taste - perhaps I should go on a three month unpaid sabbatical then and all the mods should be sacked :LOL:
 
Flash In The Pan said:
You're right, it was in poor taste - perhaps I should go on a three month unpaid sabbatical then and all the mods should be sacked :LOL:
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Oops, I didn't actually mean to berrate you, I meant that comment to be directed towards foodpoison so as to agree with him. I got your userID's mixed up.

I didn't think what you said was in poor taste - the same thing crossed my mind this morning until I read that Jessops, like many firms (including mine), are riddled with debt.

Anyway, like I said - I personally hope, warranty aside, that Jessops to continue to trade. They are highly competitive on the primary items such as bodies and lenses, but are uncompetitive in the accessories market. Unfortunately I suppose it's the accessories where they hope to make a profit, and they simply cannot compete with the online retailers here.
 
timr said:
Flash In The Pan - Personally I think it'd be silly for anyone to be making jokes about administration/redundancy at the moment - I can't imagine too many professions out there that are truly 'safe'. Scary times.
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I doubt there is a single person out there who is going to be totally immune to the financial squeeze ahead and I reckon we could all do with as much humour as we can lay our hands on.

As the old saying goes, if you don't laugh, you'll cry.
 
dazzajl said:
I doubt there is a single person out there who is going to be totally immune to the financial squeeze ahead and I reckon we could all do with as much humour as we can lay our hands on.

As the old saying goes, if you don't laugh, you'll cry.
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I'll watch UKTV Gold when I've been made redundant; that's about all the humour I'm going to be able to muster I reckon. ;)
 
Geezus! If Jessops go under they're going to leave a huge photographic vacuum most major towns and cities.
 
Flash In The Pan said:
They've brought Reggie Perrin back, you could try emulating him :LOL:
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Knowing my luck if I tried to do a Reggie Perrin my wife/girlfriend would take the life insurance money and run off with some suave Mediterranean bloke.

I think I might fly in the face of the recession and head down to Jessops and get me a Sony 18-250mm. You only live once, afterall.
 
dazzajl said:
I doubt there is a single person out there who is going to be totally immune to the financial squeeze ahead and I reckon we could all do with as much humour as we can lay our hands on.

As the old saying goes, if you don't laugh, you'll cry.
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I agree to some extent, but we get some customers coming in and taking the **** out of us for not doing too well. Those are the kind of jokes I don't appreciate.
 
foodpoison said:
I agree to some extent, but we get some customers coming in and taking the **** out of us for not doing too well. Those are the kind of jokes I don't appreciate.
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All the best mate, I hope things work out for you - thanks for the info about the warranty.
 
foodpoison said:
I agree to some extent, but we get some customers coming in and taking the **** out of us for not doing too well. Those are the kind of jokes I don't appreciate.
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Well that's not humour is it. Humour would be them seeing the funny side of you throwing them out of the shop by their ear. ;)
 
Currys aren't really comparable to Jessops with regard to camera sales, they only stock the cheaper models in the most popular ranges and the cheapest, consumer-level lenses.

Jessops needs to continue with it's slimming plan - point and shoot cameras were to be phased out and the main focus placed on dslr sales. There are also still far too many stores in the group as well, Glasgow has three within walking distance and two of those are almost within line of sight of each other.
 
Get rid of stores that are within a 20 mile radius of eachother, and become a store more serious and passionate about all forms of photography.

Point and shoots are generally ordered on the net because they're effectively disposable. If it breaks, you haven't spend half a grand on it.

Focus on DSLRs, 35mm, MF, lenses for all, bridge and more powerful compacts (i.e. G10 or FZ28) and basically get rid of the market interest that want the cheapest price possible, and employ some people who know something about cameras. I think the photographers of the world would prefer to buy from a store, talk to someone knowledgeable, and get to know a camera before they part with the best part of their month's wages, whereas people who want a P&S don't care where they buy it from, they just want cheap and cheerful.
Something like that FITP?
 
I don't think film cameras are a viable market for a high street store any more, even a specialised one, but as far as market positioning I think Jessops would be far better targeting Calumet's customer base than the jenny aw' things market as they do at present.

They also, as you say, need more knowledgeable staff. When you get a branch manager telling you that the 50mm lens you've had on your D80 for 6 months can't possibly work with it because the D80 doesn't have an a/f motor then you have to question just how clued up the rest of his team are going to be....
 
there worth nothing yet they still have nothing in their sales :(
 
Flash In The Pan said:
I don't think film cameras are a viable market for a high street store any more, even a specialised one, but as far as market positioning I think Jessops would be far better targeting Calumet's customer base than the jenny aw' things market as they do at present.

They also, as you say, need more knowledgeable staff. When you get a branch manager telling you that the 50mm lens you've had on your D80 for 6 months can't possibly work with it because the D80 doesn't have an a/f motor then you have to question just how clued up the rest of his team are going to be....
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Haha, nice one!

Well our team's strongest 3 people are myself, the part time lab technician and the manager. I know loads about canon slrs, lenses and accessories, sigma and tamron lenses, and a fair bit about the workings of compacts, and I know all about the digital stuff and how cameras actually work.
The part time lab technician knows all about nikon kit, and then other stuff like film processing etc.
The manager knows bits and bobs, but is really good at fixing stuff. A customer brought in a compact, and the lens was slightly broken. He took it apart on the spot, fixed it, and put it all back together again, saving them a 4 week wait while it would have been 'repaired' at olympus!
 
foodpoison said:
Haha, nice one!

Well our team's strongest 3 people are myself, the part time lab technician and the manager. I know loads about canon slrs, lenses and accessories, sigma and tamron lenses, and a fair bit about the workings of compacts, and I know all about the digital stuff and how cameras actually work.
The part time lab technician knows all about nikon kit, and then other stuff like film processing etc.
The manager knows bits and bobs, but is really good at fixing stuff. A customer brought in a compact, and the lens was slightly broken. He took it apart on the spot, fixed it, and put it all back together again, saving them a 4 week wait while it would have been 'repaired' at olympus!
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The same manager tried to fob me off with a 77mm lens hood to fit a lens with a 58mm fitting, even to the point where he told me he'd taken the bigger hood off an identical lens himself to give to me :shrug:

These are just little things, but I'm just one customer, if everyone else is getting the same mickey mouse service then it reflects badly on the whole company and there are plenty of threads here on TP that tell similar tales..
 
I got great service when buying my 5d mkII from them, managed to save a lot of money. I don't think they are bad as such, but their negative reputation seems to outweigh the good things about the place.
 
Jessops were not doing so well before the present economic crisis. My local branch who I've supported for years made a bad choice about a year or so ago they cleared half the shop out for self photo editing / printing machines, So I ended up not going so often as the shelves were badly stocked after the change.

It will be a shame if they fold nonetheless.

Yes I'm redundant and enjoying the freedom, 40 years of toil and labour and loads of tog time to catch up on :cool:
 
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Meh, i dont really ask many questions when i'm in since i know pretty much what i'm looking for so it just suits me to ask for the bit of kit, have a look and then decide whether to buy it.
I rekon they probably get a fair number of customers like that and really if you've read the ins and outs of a piece of kit on the internet you'll probably end up knowing more than them anyway since you cant expect them to know everything about everything. (but you can know everything about something, for a while, if you know what i mean)
 
Kiasdad and I were chatting about Jessops with our local independent camera shop and he was of the opinion that they might have to go down the pro-forma route of ordering because they haven't got the money as a company to buy in much stock...

Our local branch has seemed empty for a good while now and they always have huge posters in the window to disguise the fact that there isn't anything to see...

We haven't bought anything in there for a long time,but it would still be a shame if they were to go under...
 
I suspect that there will be an awful lot of rebalancing in the near future - companies need to have a model that makes money rather than relying on market share and a credit line. I would take no pleasure with FoodPoisons discomfort over the possibility that Jessops has issues, but would suggest that Jessops may have ridden on the crest of the digital camera wave for too long and too complacently. I would imagine that setting themselves up as a specialist shop and then not employing nor training people as specialists may be part of their mistake.

I hope that Jessops survives - I buy most of my new gear from them. I suspect that things are on the change however - and Foodpoison must stand a chance of surviving with them as at least he is interested enough to join a camera forum.

Just my 2p worth.

Chris
 
The reason our shelves are so empty is because we sell out so quickly!
No denying that the big posters in the window are indeed used to hide the fact that our shelves are so depleted.
Seriously, we get 2 or 3 deliveries a week. 4 TZ5's that we'd received in stock were gone within an hour.

There is always loads of stock available in our warehouse but head office haven't yet realised our selling power!

Tuliponje, you have pretty much hit the nail on the head there. Just like woolworths who branded themselves as a jack of all trades, despite the fact that pretty much everything they sold was cheaper somewhere else, we (as in Jessops' head office) need to seriously rethink their strategies!
 
The main Norwich store has recently been re-organised. They've got so much wasted space now. 6 DIY printing terminals down one side with a few printers, A wall of display cases for dSLRs and compacts. The centre which used to have a few island shelves with all sorts of useful stuff is now just lowepro bags.
 
I'll be well sorry to see them go, if the banks pull the plug, always got on well with my local store :(
 
I had a mixed response at Jessops. I was speaking to a knowledgable helpful sales guy who was showing me around a Canon, I was interested in it and asked to put a card in it to shoot a few frames. They didn't have a good SD card on demo and the person in charge wouldn't let the salesman open one. Result?, one potential customer walking out of the shop.
I bought a D300 from Mifsuds who took the time to explain and demo several cameras and ended up getting the business.

They really need to decide whether they're after the serious DSLR market or the high volume walk in market and to concentrate their efforts.

Kev
 
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