Jessops now in administration.
What wonderful high streets we have these days, bookmakers, charity shops, pound shops and cash 4 gold.
High Street chain collapse sweepstake
I think eventually the high street will polarise into high end and low end with everything in the middle gone to a combination of internet retailers and supermarkets - at the moment this is confined largely to consumer electronics and entertainment which is where most of the casualties have been, Jessops just being the latest. But I think eventually it will spread into all retail sectors.Jessops now in administration.
What wonderful high streets we have these days, bookmakers, charity shops, pound shops and cash 4 gold
It's sad but ultimately if people with squeezed finances go to shops just to look at things which they will then go and buy for less at Amazon or Tescos, or if the high street competes by agreeing to price matches they can't really afford then the death of mid-range retailers will continue.
You want the high street the same way it was 10 (or even 5) years ago? That means you have to spend money on the high street rather than in the supermarkets and on the internet even if it means spending more. But no one is going to do that.
-
Dr Lobster*
- Posts: 2107
- Joined: Sat 30 Aug, 2003 20.14
You are right about Jessops - the market for compacts has pretty much evaporated now phone cameras have caught up and I don't think they really cottoned on to that because they never really attempted to embrace the mirrorless and prosumer DSLR enthusiast market.
The other thing with Jessops was that they didn't carry any stock of pro lenses or high end cameras in store despite advertising them profusely. If you are going to have to wait 3 days for them to get it in you might as well order and get it next day from Amazon for less.
I remember going in to buy a CF card and they told me they didn't have them because only really old cameras take them... Despite the fact that the shiny Canon 7D which had just come out and were marketing heavily only takes them.
The other thing with Jessops was that they didn't carry any stock of pro lenses or high end cameras in store despite advertising them profusely. If you are going to have to wait 3 days for them to get it in you might as well order and get it next day from Amazon for less.
I remember going in to buy a CF card and they told me they didn't have them because only really old cameras take them... Despite the fact that the shiny Canon 7D which had just come out and were marketing heavily only takes them.
Upload service: http://www.metropol247.co.uk/uploadservice
-
martindtanderson
- Posts: 527
- Joined: Tue 23 Dec, 2003 04.03
- Location: London, UK
- Contact:
My only experience of Jessops, was buying a tripod from them. It does seem like a niche market these days however.
-
Nick Harvey
- God
- Posts: 4148
- Joined: Fri 15 Aug, 2003 22.26
- Location: Deepest Wiltshire
- Contact:
Not exactly High Street, but the other news from today is play.com.
They're closing their Jersey operation, with a loss of around 150 jobs, at the end of March.
They've also issued a warning about their two sites on the mainland.
They're closing their Jersey operation, with a loss of around 150 jobs, at the end of March.
They've also issued a warning about their two sites on the mainland.
-
Inspector Sands
- Posts: 365
- Joined: Wed 25 Aug, 2004 00.37
- Location: London
All Jessops stores to close tonight.
Seems very sudden, usually administrators take a bit longer to find alternatives. Though it seems HSBC owned a large stake in it and if they can't help out then I suppose there's not much that can be done.
I know someone who worked for them for years and was made redundant the last time they went through difficulties. One of their problems was that they bought up rivals and then kept their branches so some towns had 2 or 3 Jessops branches. A lot of mismanagement too, it's been in trouble for years. In 2008 it's share price plummeted and the chairman got a £500,000 bonus which was agreed by a director called William Rollason... who at the time was also involved in Farepak!
Seems very sudden, usually administrators take a bit longer to find alternatives. Though it seems HSBC owned a large stake in it and if they can't help out then I suppose there's not much that can be done.
I know someone who worked for them for years and was made redundant the last time they went through difficulties. One of their problems was that they bought up rivals and then kept their branches so some towns had 2 or 3 Jessops branches. A lot of mismanagement too, it's been in trouble for years. In 2008 it's share price plummeted and the chairman got a £500,000 bonus which was agreed by a director called William Rollason... who at the time was also involved in Farepak!
-
Square Eyes
- Posts: 630
- Joined: Fri 15 Aug, 2003 13.38
HMV is holding a massive sale tomorrow after admitting it could breach it's banking covenant at the end of January.
Sad times.
http://news.sky.com/story/1036367/hmv-s ... k-deadline
Sad times.
http://news.sky.com/story/1036367/hmv-s ... k-deadline