Author Topic: Jessops in administration  (Read 5340 times)

John

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Jessops in administration
« on: January 09, 2013, 04:04:19 PM »
It may not really effect us Filmwasters, but Jessops have into administration.

http://news.sky.com/story/1035613/jessops-pwc-confirms-role-as-administrator

LT

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Re: Jessops in administration
« Reply #1 on: January 09, 2013, 04:42:55 PM »
I was still getting my 5 litre fix bottles from them - even if it was to the surprise of the 10 y/o shop assistant (errr - what is fixer?). I suspect the admins will sell off assets and let it slide, can't see it being a viable business anymore sadly. Online prices are so much cheaper.

L.
L.

John

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Re: Jessops in administration
« Reply #2 on: January 09, 2013, 05:14:46 PM »
Perhaps they will remain as an online only business? It's sad for the people that work for Jessops and for the high street. A friend of mine has just bought her Nikon D600 and 2 lenses from Jessops.

I got my developing trays from them via the web site/store pick up. They thought they'd been ordered by mistake, and the younger staff hadn't a clue what they were, but the older sales chap said 'it's nice to know someone is still keeping it going'.


charles binns

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Re: Jessops in administration
« Reply #3 on: January 09, 2013, 06:54:18 PM »
A friend of mine was recently employed by them as a consultant to try to move the business forward.   Sadly high st retailers are going to struggle to survive in a marketplace dominated by online sellers - especially when some of the biggest ones don't pay tax (my friend's biggest gripe!).  I don't think Jessops will be the last chain to close.

Late Developer

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Re: Jessops in administration
« Reply #4 on: January 09, 2013, 07:44:07 PM »
I have mixed feelings about this.

Years ago, Jessops was about the most aggressive photo retailer there was and went round like some photographic "Borg" mother-ship assimilating top quality, independent stores and smaller chains. Usual trick; move in next door to the opposition, undercut their prices by a suicidal amount, drive the opposition into the dirt and either see them go under or buy them for a song.

At least they employed some enthusiasts in those days and film was still the only option and camera replacement cycles were every five years rather than every five minutes.

Then digital arrived - coincidentally at about the same time as the interweb became popular with the masses. It's been all downhill since then.

Making a strategic decision to refuse to part exchange anything and employing staff who would be as effective and skilful at burger flipping as selling consumer electricals was the point at which I refused to put money through their tills. Jessops hasn't, IMO, offered any "value" to High Street shoppers for years. So, those who want a cheapest-is-best, undifferentiated and uneducated buying process might as well buy their "commodities" off the 'web. Even saying that, just about everyone on the planet has a digital camera of some description - so how many more do they need to buy.......? Saturation point.

I feel genuinely sorry for anyone losing their means of earning an honest crust - particularly when the world (other than China) is in a stagnant, at best, economic situation and there's little sign of improvement any time soon.

"An ounce of perception. A pound of obscure".

Alan

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Re: Jessops in administration
« Reply #5 on: January 09, 2013, 07:46:30 PM »
Hmm, on one thread we celebrate people setting up darkrooms, we read of ilford commiting to film, lomography releasing new cameras and then this...tough times in an increasingly cyber world, there is so much choice online. As mrntioned maybe they will keeping trading online. I have some jessops gear, no complaints but bought it all online . . .

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Francois

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Re: Jessops in administration
« Reply #6 on: January 09, 2013, 10:25:00 PM »
Now that is really surprising.
But when you think about the shift from a consumables sales company to an electronics store, it's easy to see where it hurts.
All the companies pushed digital sales as far as they could and now they're the first to suffer from that shift.
Thing is, most people don't change their digicam all that often. And most people get them at electronics stores. Even I did the same. And then, people just store their photos on a hard disk and never look at them. No printing and no film basically killed their cash flow.

And companies like kids with no knowledge for a few reasons: lower salary, no benefits (hire everyone part time), sales still happen because people either come through the door knowing exactly what they want or are just gullible and will buy anything.

Still, it sucks big time.
Francois

Film is the vinyl record of photography.

Jon Butler

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Re: Jessops in administration
« Reply #7 on: January 09, 2013, 11:49:55 PM »
I always feel sorry for the workers, they have work for peanuts and now get the sack. Not sorry for Jessops at all as a company they were just bandits and their demise has been brought on by greed.

I hope this will prompt a few more independent retailers to start up with real photographic shops.
J.
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Re: Jessops in administration
« Reply #8 on: January 09, 2013, 11:58:04 PM »
I always feel sorry for the workers, they have work for peanuts and now get the sack. Not sorry for Jessops at all as a company they were just bandits and their demise has been brought on by greed.

I hope this will prompt a few more independent retailers to start up with real photographic shops.
J.

Couldn't have put it better myself, Jon. Retailers need to add value to the sales process by giving good advice, after-sales service and additional options such as printing and framing - maybe even training on photo software / film processing. Perhaps the demise of a High Street "giant" leaves a few doors open for smaller independents to exploit. Here's hoping...
"An ounce of perception. A pound of obscure".

LEAFotography

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Re: Jessops in administration
« Reply #9 on: January 10, 2013, 08:04:03 PM »
Yes, sad for the Staff definitely...though these things may have a beneficial impact on the remaining in-town film developers in some places. Here in Lincoln (UK) the remaining developers (that do C-41 process) are Kodak Express, Snappy Snaps and Boots (the Chemist). I hope they'll pick up the developing and film selling trade that disappears with the loss of Jessops. The big supermarkets, I won't elevate them by using their names, stopped providing developing services in-store a good few years ago.

sapata

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Re: Jessops in administration
« Reply #10 on: January 11, 2013, 12:42:40 AM »
With their terrible customer services it doesn't come as a surprise to be honest... while I was living in London I avoided that place like hell, and I believe I wasn't the only one!
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Re: Jessops in administration
« Reply #11 on: January 11, 2013, 09:05:58 AM »
I feel pretty alone here, as I will really miss Jessops. We have 2 branches in town, 1 bad (full of kids who know nothing, no stock) but the other is excellent, helpful staff and brilliant manager. I have worked in the pro trade in the past (the old KJP etc) and I know lots of people who work at Jessops. I feel for them.

The problem is that photographic sales has become a simple process of box shifting. The web was bound to win  :(

Late Developer

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Re: Jessops in administration
« Reply #12 on: January 11, 2013, 01:54:06 PM »
I feel pretty alone here, as I will really miss Jessops. We have 2 branches in town, 1 bad (full of kids who know nothing, no stock) but the other is excellent, helpful staff and brilliant manager. I have worked in the pro trade in the past (the old KJP etc) and I know lots of people who work at Jessops. I feel for them.

The problem is that photographic sales has become a simple process of box shifting. The web was bound to win  :(

I doubt many, if any, of us here would wish anyone out of a job. The majority of Jessops' employees are nothing more than unfortunate pawns in the big chess game of retailing. Some excellent people running camera sales businesses in the independent second-hand market are ex-Jessops and there are others, no doubt, still there. They were few and far between, though.

Adam Smith, the 18th century economist, got it very right when he said:

"Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer."

Jessops, like many before them, seem to have reached that tipping pont where demand via their primary distribution channel dried up and they'd failed to understand that, partly due to austerity, partly due to saturatio of the digital camera market and partly due to convenience of internet shopping, consumers had left them behind. I doubt they will be the last.
"An ounce of perception. A pound of obscure".

Francois

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Re: Jessops in administration
« Reply #13 on: January 11, 2013, 02:53:58 PM »
I'm going to do a a strange parallel but I heard that the next one who most likely will fall is Best Buy. With the growing internet shopping market, they're stuck with huge stores in which 60% of the merchandise doesn't sell simply because people get their stuff online. Endless racks of CD's and DVD's are pulling the business down not because they don't sell but simply because they take space. When the average store is at least 100,000 sq.ft. and 60% of that is just "unused", it costs a lot in heating/AC lighting, electricity, taxes, staff turning their fingers...

Jessops was probably stuck with the same problem. But when your inventory just sits there, that's money out but no money in.
Francois

Film is the vinyl record of photography.

LT

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Re: Jessops in administration
« Reply #14 on: January 11, 2013, 03:45:33 PM »
Adam Smith .. the father of the liberal market? the neoliberalists' worship-monkey? talking sense? Geddoutahere ....
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sapata

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Re: Jessops in administration
« Reply #15 on: January 11, 2013, 05:00:49 PM »
Just to spice up a bit the conversation...

Right after I left HMV back in June ( God... is it that long already?) anyhows... they've appointed the chief executive from Jessops, he probably left (or got sacked) maybe knowing already the ship was sinking ???. Now, HMV is a massive company that is going through financial problems for a long time... will he be the one to save HMV?  My colleagues that still works in there aren't happy with the new company policies...
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Sandeha Lynch

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Re: Jessops in administration
« Reply #16 on: January 12, 2013, 08:11:45 AM »
If the 187 Jessops shops could be replaced with 187 fresh fruit and vegetable shops, t'would be progress.

Late Developer

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Re: Jessops in administration
« Reply #17 on: January 12, 2013, 09:29:58 AM »
Adam Smith .. the father of the liberal market? the neoliberalists' worship-monkey? talking sense? Geddoutahere ....

Okay, to paraphrase:

"If you've got nothing worth buying - at least not at a price anyone's prepared to pay - don't expect to be around too long."

That seems to sum up Jessops' predicament quite well, I feel.

As for HMV, I really hope they do survive. Many of their larger stores are reintroducing vinyl, they're diversifying their product range to include clothing, books, etc. However, with the growth of the "cloud" and other storage/download media, I can't see it being an easy task for them.

I'm a vinyl fan, so I would hate to be in a position whereby the only (or even main) source of music was downloaded digital files as, though they're okay for my iPhone, they don't compete remotely with 180g vinyl (even with the occasional "pop" or "click".)
"An ounce of perception. A pound of obscure".

euge...

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Re: Jessops in administration
« Reply #18 on: January 13, 2013, 02:03:10 AM »
I bought 2 lps in HMV before christmas in piccadilly .This was a pleasant suprise especially as the emilie sande cd present for my mother in law wasnt in stock.However i have heard that they probably arent receiving stock without money upfront in certain cases which was also the case with woolies before it went under.
On the Jessops front, somebody in work said to me that Nikon&Canon wouldnt let it go completely under as it was a main platform for their products in the UK.This was probably complete conjecture but it was an angle that I hadnt thought of .The last product I bought from jessops was a box of slide mounts that seemed to have been hidden at the back of a low shelf late last year.I had hoped that one bought ,might mean that the stock computer might put them on reorder.Ive also got about £60 worth of vouchers which they arent honouring which is a pain.

ChristopherCoy

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Re: Jessops in administration
« Reply #19 on: January 13, 2013, 12:32:14 PM »
I'm assuming that 'administration' is the same as 'bankruptcy' here in the states?
Christopher

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ChristopherCoy

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Re: Jessops in administration
« Reply #20 on: January 13, 2013, 12:45:27 PM »
Thing is, most people don't change their digicam all that often. And most people get them at electronics stores. Even I did the same. And then, people just store their photos on a hard disk and never look at them. No printing and no film basically killed their cash flow.


That's only been in the last few years though. Prior to a few years ago, when digital cam's were pre-12mpx, people were updating their bodies every year or so because there was always something with more megapixels. Once sensors hit the 12mpx mark and above, there was/is little need to upgrade to anything bigger, because its mostly overkill. With pro-sumer models in the 16mpx range and full frame models in the 24mpx range, people are keeping their bodies much much longer these days.

Here in the states, the major digital retailer is B&H. A LOT of people buy gear from there online because they don't have to pay sales tax.

And I fully agree with whoever said that digital has reached a saturation point. It seems that Canon and Nikon are just reinventing bodies and adding and subtracting features just to say they have a 'new' model.

I used to be a digital gearhead to the enth degree, and at some point it just got to be too much.  I got tired of specs, and mouse clicks, and buttons, and settings, and menus, and sensors, and pixels, and everything else.


...sales still happen because people either come through the door knowing exactly what they want or are just gullible and will buy anything.


I was at Best Buy a few months ago looking for a cable for something, can't remember what, but I passed by their digital camera section. I find it laughable to purchase cameras at Best Buy anyway, but there was a lady there looking to purchase. As I passed by, I overheard the salesman, who looked like he was in the 8th grade, tell her that the "red nikon D3200 was better than the black nikon D3200 because it was a "special edition" with better technology." I thought for a minute that I would stop and properly inform her, but then I figured that I wouldn't want anyone showing up at my job and causing me to loose money, so I left it alone.
« Last Edit: January 13, 2013, 12:51:18 PM by ChristopherCoy »
Christopher

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LT

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Re: Jessops in administration
« Reply #21 on: January 13, 2013, 01:00:00 PM »
I'm assuming that 'administration' is the same as 'bankruptcy' here in the states?

I'm not sure, but in the uk, bankruptcy only applies to personal circumstance, not companies.

Administration is a complex arrangement, sometimes imposed through the court following petition by creditors, and sometimes through appointment by the company directors. I think there are some similarities to chapter 11 in the states. There is a duty to consider the 'going concern' option, but if this is not tenable, the administrator then must prioritise meeting the company's creditors needs and wind it down.

L.

ChristopherCoy

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Re: Jessops in administration
« Reply #22 on: January 13, 2013, 01:01:42 PM »
That's what I figured. Thank's Leon!
Christopher

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Alan

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Re: Jessops in administration
« Reply #23 on: January 15, 2013, 09:06:16 AM »
Just to spice up a bit the conversation...

Right after I left HMV back in June ( God... is it that long already?) anyhows... they've appointed the chief executive from Jessops, he probably left (or got sacked) maybe knowing already the ship was sinking ???. Now, HMV is a massive company that is going through financial problems for a long time... will he be the one to save HMV?  My colleagues that still works in there aren't happy with the new company policies...

HMV are now in administration [receivership] too !

LT

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Re: Jessops in administration
« Reply #24 on: January 15, 2013, 12:21:59 PM »
This is more disturbing to me than Jessops going (unemployment concerns aside).

HMV represented something special ....  When I was a teenager, it was a place, like Virgin Megastores, that I had to go to london to visit, so all the excitement of a "trip up town" is wrapped up in it for me.  That along with the places being like cathedrals of sound and vision, with rare collectibles, less common fanzines and music mags, all stuff that I couldn't get 'down Chatham Shops', and of course there was no interwebs to browse either.

Maybe the polish wore off a bit when it became more of a common high-street brand, but it is really, really sad that it will likely not survive the next few months.

 :'(
L.

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Re: Jessops in administration
« Reply #25 on: January 15, 2013, 01:37:05 PM »
My grandparents had a large collection of "78" records - mostly on HMV label which they used to play on their HMV gramopohone. HMVs likely demise is nothing short of a disaster - not only for employees but also for consumers - as they sell 37% of all CDs sold in the UK.

I know that CDs are a declining medium (ironic for something "digital" to be life threatened for a change) but the prospect of CDs disappearing off the high street  is pretty awful. Downloads - even the so-called "lossless" versions, are a bit crap and require special kit to play through an audiophile set up. They're just about okay for MP3 players.

I'm in Manchester today and I'm going to have a look at HMV after work. I hope they come through administration and the powers-that-be are able to salvage some, if not all of the business, as a going concern.

Aside from clothes shops, hairdressers and beauticians, the high street retail sector seems doomed. These former "anchor stores" are what drag people into town and city centres and, once they're gone.........
"An ounce of perception. A pound of obscure".

Alan

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Re: Jessops in administration
« Reply #26 on: January 15, 2013, 02:27:30 PM »
agree totally paul !

i think we can blame apple to a degree.
people are downloading their music these days to play on their i-something

our daughter owns  CD's . . . she's 18 and loves her music!

When i was 18 i had tonnes of vinyl [still have a collection of fav's :-)]

myself and my partner have another big collection of CD's.




Francois

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Re: Jessops in administration
« Reply #27 on: January 15, 2013, 03:18:20 PM »
Not HMV  :'(
I remember when I was a kid, they had opened a huge store in Montreal. It was three stories, 60,000 Sq.Ft. of pure heaven.
Once in a while, dad would drive me down and I would get some music we couldn't get in the burbs.

The store is now long gone. All the music stores left have lost their edge. Sad.
Francois

Film is the vinyl record of photography.

Alan

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Re: Jessops in administration
« Reply #28 on: January 15, 2013, 04:25:19 PM »
agree totally paul !

i think we can blame apple to a degree.
people are downloading their music these days to play on their i-something

our daughter owns  CD's . . . she's 18 and loves her music!

When i was 18 i had tonnes of vinyl [still have a collection of fav's :-)]

myself and my partner have another big collection of CD's.

sorry forgot to type the number 3! she has 3 cd's !

Francois, that was some store! the one in dublin years ago was about half that size.

Paul Mitchell

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Re: Jessops in administration
« Reply #29 on: January 15, 2013, 06:48:54 PM »
agree totally paul !

i think we can blame apple to a degree.
people are downloading their music these days to play on their i-something

our daughter owns  CD's . . . she's 18 and loves her music!

When i was 18 i had tonnes of vinyl [still have a collection of fav's :-)]

myself and my partner have another big collection of CD's.

My son is 18, at university, owns a MacBook Pro, iPhone and an iPad and has probably a larger collection of vinyl than I ever had! He prefers vinyl for pure listening pleasure and spotify for everyday music fodder... bit like me with film and digital really. :D
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sapata

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Re: Jessops in administration
« Reply #30 on: January 15, 2013, 08:39:35 PM »
I saw the HMV news last night and could not believe me eyes even so everyone knew this was coming... to me was like loosing someone who was sick for a long time but only realizing when it's gone forever.

I've spent eight amazing years of my life working on what was once "The biggest record store in the world" in Oxford Circus opened by Bob Geldof (the metal plate sign is at the front of the store but not many people pay attention...). I met so many people and so many artists... countless amazing PAs and getting all new releases before everyone else, not to mention I've learned a lot about music. I have so many friends still working in there and differently to any other type of retail store, most of them are truly passionated about working at HMV (I know people that's been working in there for over 20 or even 30 years!).

This is a really sad day for me... :'(
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