The camera retailer came under pressure from low consumer confidence, a situation that was exacerbated, said PwC, by a credit squeeze and adjustments to payment period by key suppliers Nikon and Canon.
According to a report on RetailWeek.com, the collapse of the camera specialist has triggered intense talks between lenders, directors, suppliers and potential buyers to save the business.
On Monday, Jessops revealed that 15 shops were set to close in the coming weeks. Following the collapse of the retailer PwC said more store closures are “inevitable”.
A statement from Canon in response to Jessops’ collapse said: “We are disappointed to hear the news regarding Jessops after having a strong business relationship for many years and particularly following our efforts to support them during the recent difficult trading environment.”
