Job losses in Newry after Jessops announces immediate closure
High street camera store Jessops has become one of the first retail casualties of 2013 in Newry after the administrator for the retailer today announced the closure of all its 187 stores.
According to the administrator, PricewaterhouseCoopers (PwC), the Newry job losses will be part of 1,370 jobs that will be lost throughout England, Scotland, Wales and Northern Ireland.
Jessops was founded in Leicester in 1935 but has struggled in recent years after increased competition from online retailers. The decision to close follows a lengthy battle for survival. In 2009 the retailer narrowly avoided administration by agreeing a debt for equity swap with lenders HSBC.
Joint administrator at PricewaterhouseCoopers said it was an extremely sad day for Jessops and its employees. “The stock will be collected over the coming days and returned to a central warehouse. It will be returned to suppliers if they are entitled to it.
“As a consequence of the closure, Jessops is no longer able to accept returned product from customers.”
The administrator insisted that employees however, will still be paid for all work carried out. He added, “We will continue to ensure that employees are paid as they assist us during the closure.”
Sinn Fein MLA Mickey Brady said he is deeply disappointed about the closure.
Speaking to Newry Times, Mr Brady said, “This is a very sad day for the staff of Jessops and I am disappointed that the administrators could not have done more to save the jobs.
“In the current economic climate any job losses have to be deplored so It is now important the the administrators honour the full entitlements that are due to the staff.”
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