Struggling photography chain Jessops is likely to go into administration – possibly as soon as this afternoon.
Trade magazine Retail Week has commented that the chain is ‘on the verge of administration’ and suggests that PwC will become administrator.
Sky has since confirmed that Jessops has today applied for administration – expect official word that it is going ahead to come out soon.
On Monday, in a statement, Jessops said: "In early 2013 there are 15 stores that do not meet the required level of viability and so, unfortunately, these stores will close.
"Jessops will work with the colleagues at these stores to ensure that, wherever possible, they are offered roles elsewhere in the company."
The firm said it was commited to the High Street, which was said to be ‘an important part’ of it’s multi-channel strategy. But whether its High Street stores can survive administration remains to be seen.
Jessops has not yet confirmed which stores will be closing, and said ‘no comment’ on the administration speculation when asked by PCR today.
If it does go into administration, up to 2,000 jobs will be at risk.
More news is expected today.
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