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Jessops in Administration


Al94
Resolved

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The end of another High Street name?

http://www.bbc.co.uk/news/business-20958659

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pavvi

Likes # 1

I would make one adjustment to your statement FE, and say that as a keen photographer that the problem now is that the camera on a phone is perceived as being so good that is becomes the only device. Part of the problem is that we rarely print photographs now. This is ironic as many phones compete on how many megapixels it has. Yet megapixels isn't really about quality, even if it might come up on your menu as image quality. Megapixels is about size of the picture. for what people use photos for, for Facebook, twitter and as screensaver/desktop for their phone or computer, they only need about 0.8 mp. The latest iPhone has a good 8 mp sensor, but put it into bad light and it struggles like mad like many of its competitors. People have been swayed by the megapixels.

It's bad for consumers when high street operators go out of business. Who do you speak to when you have a problem? From my experience as a store manager the majority of 'faulty' items were actually just user error. People couldn't get on the net, and I'd look at their settings and they had deleted the network settings.

In the end we will all pay the price. You can order in £ from many online retailers. How many of them are actually British? DigitalRev has pretty good prices, but they are a Hong Kong based retailer. Where are the tax pounds going? Too many people are looking at the base price and deciding on that alone. There will come a time when we all pay very dearly for that.

I was planning to be ordering things from Jessop's today, but had to order from elsewhere. Their base price was £10 cheaper than Jessop's but including delivery was only £1 cheaper. Jessops were delivering for free. So for 1£ extra in my pocket I lose so much more. If I have a problem that requires solving, I will incur postage prices. Let's hope it doesn't go faulty.

It's very sad news if we end up losing another national retailer. My experience of Jessop's was mainly positive, although I often found their customer service centre's service less than perfect.

My thoughts are with the staff. In the storesI found they had good knowledgeable staff.

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Forum Editor

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"They (HSBC) were not interested in any discussions as they felt there was equity value to be realised in the future"

That would be because the bank already owned 43% of the company. Presumably HSBC didn't have confidence in the proposed deal, given that Jessops was debt-heavy.

In simple terms, Jessops made a marketing blunder when it expanded too rapidly on the back of the smartphone bubble. The Jessops view was that people would flock to its stores to buy digital cameras, and it just didn't happen. Smartphone users didn't buy cameras because they were using their phones to take photographs, and keen photographers and professionals who knew what they wanted were buying their gear online.

Jessops was left horribly exposed (forgive the pun), with an unsustainable business model and a mountain of debt. The writing was on the wall some time ago.

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Forum Editor

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"I hope customers who have lost out can get some recompense financially"

For information about that see this thread in our Tech Consumer Advice forum

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Forum Editor

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spuds

"...from a statement of closing a few stores to total apparent collapse and store clearance only took a matter of hours."

That's because Price Waterhouse Cooper were talking to suppliers to see if they would be prepared to help keep the stores trading by allowing an extension to the existing payment period on stock already delivered.

It was obviously not possible to secure those agreements, so all stock that hasn't yet been paid for will have to be returned to the suppliers as soon as possible. It doesn't form part of the assets of the business.

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spuds

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This affair seems to get more interesting by the hour.

Apparently there as been four offers including one from David Adams (former executive chairman of Jessops) to HSBC last year regarding taking over the company, but the offers were rejected because according to David Adams "They (HSBC) were not interested in any discussions as they felt there was equity value to be realised in the future. Now six months later the company is in administration".

David Adams as stated that he is still very interested in purchasing the business "because administration was avoidable".

Either way, this affair will end like Comet or rise from the ashes. There does appear to be a bit of mud slinging going on behind the scenes!.

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Posted by Pavvi

Part of the problem was caused by stores not having cameras/accessories physically in stock. It's all very well demonstrating a camera to a person and closing a sale but if the customer has to wait a few days for the items, they will likely walk away. One of the USPs of High Street stores is the ability to walk out with the item in your mitts and have a go with it. At Carphone Warehouse, I converted some (but not all) that were going to buy their mobiles online, on the basis that they could walk out of the store with their phones working. (full network functionality usually takes an hour or two, and at busier times longer but I always made this clear). When shopping there I often came across people liking a camera they demonstrated but being told it was out of stock, most walked away rather than wait for it.

What Jessops did have which was good was the ability to reserve something instore and get the online deal for it.

I prefer to shop in person myself especially with camera gear. There are still one or two camera stores left like London camera exchange and Calumet. LCE are generally pretty good, and Calumet are excellent, if geared primarily towards professionals. I will miss Jessops because they had a better nationwide coverage than others. Their telephone support lines, were however in my experience consistently poor.

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wiz-king

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Mr Cad in Croydon is a good store to visit if you are in the area.(Not easy to find as it's in a maze of small streets)

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kad60

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It is possible that i was one of those buyers who decided to shop elsewhere ,i went to a Jessops shop locally to enquire about a particular model camera and the service was desultory,granted this was a product superseded by the next model version but all reviews suggested this was the better option ,these reviews were online and varied.

I decided to look online and a shop in Burgess Hill was offering this model at a fantastic price ,undercutting Jessops by a significemt margin but it was also the service which was a factor in my purchase.

It is unfortunate that this outlet has closed but technology waits for no one,Morgan Guarantee ? i remember a few of their shops closed down.

Tech outlets appear to be those most vulnerable to the present economic climate.

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pavvi

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Kad60

That company in Burgess Hill was probably Park Cameras. Very good outlet with their own shop. Lots of good reviews of that store.

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Quickbeam

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I think that we'll see more manufacturers showrooms appear as the retail shops of the like of Jessops disappear to ensure that we can get a hands on feel before buying.

My town had a Panasonic showroom open a couple of years ago which displays their full range of products including their compact four thirds camera equipment that I adopted about the same time.

Strangely their showroom pricing is way over the top uncompetitive. Is this a case of not having to make a showroom profit as long as the product is purchased somewhere from any Panasonic retailer, shop or web?

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