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550 Jobs To Go At Jessops

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(1) and a fall in demand for consumables - All the film canister sales & film processing must have been a good income stream in the days of film cameras. Digital cameras, bought over the internet, have integral rechargable batteries that last as long as the camera. Jessops had to pay for their shops and staff standing around, too.

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(1) and a fall in demand for consumables - All the film canister sales & film processing must have been a good income stream in the days of film cameras. Digital cameras, bought over the internet, have integral rechargable batteries that last as long as the camera. Jessops had to pay for their shops and staff standing around, too.

Gawd blimey guv - another business up the creek! :o

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Is this due to?

(1) Competition from the internet

(2) Bad management

(3) Reduced demand for luxury goods

Jessops

Answer 1) mainly, Amazon, eBay, eBuyer, etc etc, why buy a camera from a shop that has overheads when you can get it from John at number 12 whose just inported a batch from China.

Edited by Jimmy2Times

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been waiting for someone to post this for a day or so

let the puns begin!

"the shutters are coming down"

sorry - best i could do... :unsure:

I don't get the picture.

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been waiting for someone to post this for a day or so

let the puns begin!

"the shutters are coming down"

sorry - best i could do... :unsure:

550 jobs gone in a flash

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I think they were bought by a private equity group a couple of years ago. No doubt they've saddled the company with a sh!tload of debt while paying themselves massive dividends.

I don't actually know whether this is the case, but I think it's highly probable!

Edited by Sinking Feeling

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Seems my intuition(see above) may be correct:

http://www.thisismoney.co.uk/investing-and...=3&ito=1565

Yup Jessops. Its been flipped around the City that one (and f***d in the process).

It was not the first time that a private equity firm had tried to palm Jessops off onto the public markets.

:D

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"I always thought they were over exposed to risk."

actually, even with digital, Jessops were riding high a few years back. I think it's cheap internet prices and the fact that digital camera prices have fallen.

Consumer DSLRs are now back where consumer SLR prices were in the late ninties. You just don't need to spend as much. Most Jessops stores are dumbed-down nowadays too, so the pros and big-spending enthusiasts will go elsewhere.

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Guest Bart of Darkness
its not as black and white as that.

I'm waiting to see what develops.

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Is this due to?

(1) Competition from the internet

(2) Bad management

(3) Reduced demand for luxury goods

Jessops

IMO it's due to the rapid price deflation of their products.

Debt buying products that are deflating in price ?

HD flatscreens seem to be going the same way (prices falling off a cliff). They are countering the deflation by increasing the size of the screens. I guess that keeps the volume up.

Or maybe they had a problem with the light levels in store?

Edited by Ash4781

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If you're interested in how private equity firms work, this is what Evan Davis had to say a couple of days ago.

http://www.bbc.co.uk/blogs/thereporters/ev...e_thoughts.html

The analogy used in the article with a house developer borrowing to do up a property and sell on is only too true.

Secure loads of debt against the property/business, tart it up a bit a cheaply and quickly as possible and sell on before the market has turned.

Thus the end owner is saddled with unmanageable debt when the party ends.

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Jessops are TFE.

I am into digital SLRs and find it cheaper to buy overseas. I suspect eBay is taking Jessops down. This country is still a rip-off for non-Chinese goods making it best to shop in the US.

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Guest vicmac64

Yip - as a Semi Pro photographer I just bought a £1200 lens from Calumet - I had to fight to get to this price which is still a good deal higher than I could have bought it from China - but I'd rather buy Uk than have to buy from China!

Jessops by the way didn't even have the courtesy to talk to me at all - I have bought thousands of pounds worth of equip from them in the past - and they stilll treated me like my money didn't matter!!! So its no wonder they are on the downward path they are on!!!

Any way the Calumet manager told me that the Internet was having a major impact on all the UK photographic stores that bought direct fromt he manufacturers - I suggested that Calumet should simply stop Buying from Nikon on a given quarter totally!!! as a protest!! and then the next month Canon , and the Next Sony tec etc etc---- it was their opinion that the Manufacturers didn't give a toss about the problems the trade in the UK was going through!!!!

Totally despicable - and totally irresponsible 'Treason by our British business leaders and Government!'

I don't agree with Globalism at all - I am a protectionist - and I believe our economy has to be managed to get the best from it - NOT LEFT TO MERCENARY GLOBAL BUSINESS INTERESTS!!!!

Proud to be British - this is what this is all about - we should be a 'band of brothers' instead we have been divided by our 'Globalist Enemies'

Well if it walks like a Duck and it talks like a Duck then it must be a '****' yeah - do you get it!!!!!!!!

You are in an end game towards a goal of the Globalist Elite - housing, inflation and the destruction of British Business - its time to wake up!!!

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Proud to be British - this is what this is all about - we should be a 'band of brothers' instead we have been divided by our 'Globalist Enemies'

This is perhaps an important factor that the Scottish GordEnron didn't factor into his model of importing everything, bending over for the 110,000 non-doms, etc.

Completely ignoring any kind of 'band of brothers' synergies will have far reaching, long term consequences.

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