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Mill Gate Jessops store closes down
10:50am Friday 18th January 2013 in News
THE Jessops store in the Mill Gate shopping centre has closed following the collapse of the major high street photographic equipment retailer.
The Union Street branch is one of 15 in the North West and 187 nationwide to shut after the Jessop Group went into administration.
The closure of its stores will result in about 1,370 job losses with further redundancies likely at its Leicester head office.According to administrators PwC, Jessops’ turnover in the year to December 31 was £236 million. However, its core marketplace had seen a significant decline in 2012 and forecasts for 2013 indicated this decline would continue.
Rob Hunt, joint administrator and partner with PwC, said collected stock would be returned to a central warehouse. He added: “As a consequence of the closure, Jessops is no longer able to accept returned products from customers.
“This is an extremely sad day for Jessops and its employees.
“We are very grateful for the support we have received since our appointment and we will continue to ensure that employees are paid as they assist us during the closure.”