Future of Banbury store is uncertain as Jessops goes into administration

Published on 11/01/2013 11:17

THE future of the Jessops store in Castle Quay remains uncertain after the company announced it had gone into administration.

Last Wednesday (January 9), Edward Williams, Rob Hunt and Matthew Hammond of PwC were appointed joint administrators of The Jessop Group Limited.

It came as the company’s profits saw a significant decline in 2012, with forecasts for this year predicting further financial slumps. As a result, the company has announced it will not accept returned goods or honour customer vouchers.

Mr Hunt, joint administrator and PwC partner said: “Over the last few days the directors, funders and key suppliers have been in discussions as regards additional consensual financial support for the business.

“However these discussions have not been successful. In light of these irreconcilable differences the directors decided to appoint administrators and we were appointed last Wednesday.”

Jessops has 192 stores nationwide, employing about 2,000 people.

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Future of Banbury store is uncertain as Jessops goes into administration

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