I thought I would upload the statement, so if customers should purchase goods from Jessops, it might be an idea to use a Credit Card as you will be covered "should" Jessops go into administration.
This statement is floating around from a reliable source, and is well-known in the photo trade that they are in deep trouble.
"Jessops might not survive the recession unless its bankers are prepared "to take a hit", former chairman and cheid executive Tim Brookes has warned.
The photo chain revealed that like for like sales were once again down, by 4.7% in the 12 weeks to August 16.
Jessops are borrowing around £ 60 million, and a book value of some £ 2million the bank had to realise the business could not service that level of debt and only a complete restructuring would solve the problem, with the bank, if necessary, taking a hit."