Jessops appoints administrators
About 3 Weeks, 1 Day, 21 Hours, 46 Minutes ago.
High Street photographic equipment chain Jessops has filed a notice to appoint administrators.
The camera retailer, which employs 120 staff and has 17 stores, is owned by Dragons' Den star Peter Jones.
Jessops said it had hired advisors FRP to help it restructure the business, severely impacted by the pandemic.
The notice of intent provides the business with protection for 10 days from existing or pending creditor claims.
The retailer said it planned to continue to trade when lockdown restrictions lift in April.
It is considering a rescue deal in the form of a Company Voluntary Arrangement (CVA), an insolvency process that allows a business to reach an agreement with its creditors to pay off all or part of its debts.