{"id":10472,"date":"2013-02-14T10:10:00","date_gmt":"2013-02-14T10:10:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/jessops-scale-of-financial-horror-revealed-update-5pm-10472"},"modified":"2014-10-09T17:10:31","modified_gmt":"2014-10-09T16:10:31","slug":"jessops-scale-of-financial-horror-revealed-update-5pm","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/","title":{"rendered":"Jessops: Scale of financial horror revealed (update 5pm)"},"content":{"rendered":"

In total Jessops owed around \u00a380m, including \u00a342.6m to listed creditors.<\/p>\n

Customers who had made deposits and not yet received goods, who
\nreturned goods and not received repayment \u2013 or who were due compensation \u2013
\nwere owed \u00a3201,000.<\/p>\n

Unredeemed customer gift cards totalled \u00a3869,000 and Jessops owed the taxman more than \u00a31.3m.<\/p>\n

The woeful figures are contained in records filed at Companies House,
\nwhich have been seen by AP following a report published by This is Leicestershire<\/a> earlier today.<\/p>\n

The Notice of statement of affairs<\/em>, submitted to Companies House by Jessops’ administrators PwC, states that just \u00a3407,000 is available to unsecured creditors.<\/p>\n

Canon (UK) Ltd was owed more than \u00a316.4m and Nikon (UK) Ltd over \u00a33.3m when administrators were called in on 9 January.<\/p>\n

Major suppliers, including Canon and Nikon, had retention of title
\nover unsold stock held by Jessops when it closed, meaning this should be
\nreturned to them as legal owners.<\/p>\n

In Nikon’s case, it seems most of the amount owed was held on a retention of title basis, according to the Companies House report.<\/p>\n

Records show that Canon’s security with Jessops, in terms of stock supplied, was \u00a39.3m of the \u00a316.4m it was owed.<\/p>\n

Jessops owed Panasonic Marketing Europe nearly \u00a34m; Sony UK Ltd around \u00a33.2m; and Fujifilm (UK) Ltd about \u00a32.6m.<\/p>\n

Jessops’ debt with Samsung amounted to \u00a31.2m.<\/p>\n

The collapsed chain owed its bank, HSBC, \u00a328.7m and staff around \u00a31.4m in wages.<\/p>\n

Staff are treated as preferential creditors when a company falls into administration.<\/p>\n

Customers who had signed up for Jessops Academy Courses, but not yet attended when the retailer shut its doors, were owed a total of \u00a3183,000.<\/p>\n

Spokespeople for Canon and Nikon said they will not comment on financial information.<\/p>\n","protected":false},"excerpt":{"rendered":"

Jessops owed Canon and Nikon around \u00a320 million when it collapsed last month, with assets of just \u00a33.4 million available to preferential creditors, it has emerged.<\/p>\n","protected":false},"author":324,"featured_media":10473,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[39],"tags":[],"product-category":[],"class_list":["post-10472","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo-news"],"yoast_head":"\nJessops: Scale of financial horror revealed (update 5pm) - Amateur Photographer<\/title>\n<meta name=\"description\" content=\"Jessops owed Canon and Nikon around \u00a320 million when it collapsed last month, with assets of just \u00a33.4 million available to preferential creditors, it has emerged.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jessops: Scale of financial horror revealed (update 5pm)\" \/>\n<meta property=\"og:description\" content=\"Jessops owed Canon and Nikon around \u00a320 million when it collapsed last month, with assets of just \u00a33.4 million available to preferential creditors, it has emerged.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\" \/>\n<meta property=\"og:site_name\" content=\"Amateur Photographer\" \/>\n<meta property=\"article:publisher\" content=\"http:\/\/www.facebook.com\/Amateur.photographer.magazine\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-14T10:10:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-10-09T16:10:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2013\/02\/jessops2.low_.web_1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"260\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Megan Graye\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AP_Magazine\" \/>\n<meta name=\"twitter:site\" content=\"@AP_Magazine\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Megan Graye\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\"},\"author\":{\"name\":\"Megan Graye\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/#\/schema\/person\/09a37c0ec6db00d983eb2045e99ff2f1\"},\"headline\":\"Jessops: Scale of financial horror revealed (update 5pm)\",\"datePublished\":\"2013-02-14T10:10:00+00:00\",\"dateModified\":\"2014-10-09T16:10:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\"},\"wordCount\":289,\"commentCount\":7,\"image\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2013\/02\/jessops2.low_.web_1.jpg\",\"articleSection\":[\"Latest news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\",\"url\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-scale-of-financial-horror-revealed-update-5pm\/\",\"name\":\"Jessops: Scale of financial horror revealed (update 5pm) - 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