{"id":22955,"date":"2009-08-20T09:40:00","date_gmt":"2009-08-20T08:40:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/jessops-blasts-former-boss-after-radio-outburst-22955"},"modified":"2015-04-27T14:27:04","modified_gmt":"2015-04-27T13:27:04","slug":"jessops-blasts-former-boss-after-radio-outburst","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/","title":{"rendered":"Jessops blasts former boss after radio outburst"},"content":{"rendered":"<p><span class=\"hidePageBreak\"><\/span> Current chairman blames &#8216;sins of the past&#8217;<\/p>\n<p><strong>Jessops chairman David Adams has strongly refuted claims by a former boss that the chain has left the photographic enthusiast behind in favour of the mass market.<\/strong> <\/p>\n<p>Speaking <a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_cannot_survive_in_current_form_claims_former_chief_news_287998.html\" title=\"Brookes on Jessops\">yesterday<\/a>, on the BBC Radio 4&#8217;s <em>Today<\/em> programme, ex-boss Tim Brookes &#8211; who left Jessops before it floated on the stock market in 2004 &#8211; said: &#8216;I think the demise really started after flotation when the philosophy and strategy of the business suddenly changed. <\/p>\n<p>&#8216;Jessops was concentrating on the keen amateur photographer as its main customer. I think they tried to keep up with the likes of Dixons, Argos and Boots? Jessops left its true customer base behind.&#8217; <\/p>\n<p>But, in an interview with <em>Amateur Photographer<\/em> magazine, Adams hit back: &#8216;We are not walking away from the core of the business&#8230; the camera enthusiast.&#8217;<\/p>\n<p>Adams &#8211; who joined Jessops in 2007 &#8211; agreed that Jessops has increasingly focused on the mass market in order to compete with large retail chains and supermarkets.<\/p>\n<p>But he described Brookes&#8217; comments as &#8216;ill-informed&#8217; and said it was a &#8216;bit rich&#8217; to blame current management for the chain&#8217;s troubles.<\/p>\n<p><strong>&#8216;Sins of the past&#8217;<\/strong><\/p>\n<p>Adams blamed the &#8216;sins of the past&#8217;, citing &#8216;overexpansion, too many stores and too much debt&#8217;, as the current team &#8216;wrestle&#8217; with a trading position that does not support its borrowing.<\/p>\n<p>He described some of Jessops&#8217; past acquisitions as &#8216;crazy&#8217; and pointed to the burden of the &#8216;\u00a360m&#8217; stock level at the time he joined. <\/p>\n<p>&#8216;There was this headlong rush for space at any cost with no infrastructure.. Therein lies the problems of the company, not a desertion of its customer base,&#8217; he added.<\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_blasts_former_boss_after_radio_outburst_news_288058.html?offset=&amp;offset=1\" title=\"Jessops blasts Brookes\">Adams: We are not run by the bank &#8211; See NEXT PAGE<\/a><\/p>\n<p>OTHER JESSOPS ARTICLES<\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_hires_Coffee_Republic_man_news_288022.html\" title=\"Jessops hires Coffee Republic man\">Jessops hires Coffee Republic man<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_cannot_survive_in_current_form_claims_former_chief_news_287998.html\" title=\"Jessops row\">Former Jessops boss in radio outburst<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_shares_plunge_on_finance_news_news_283317.html\" title=\"Jessops share price plunge 27 May 2009\">Jessops share price plunge 27 May 2009<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/jessops_in_frame_for_id_card_scheme_news_282241.html\" title=\"Jessops in frame for ID card scheme\">Jessops in frame for ID card scheme<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/jessops_our_revamped_store_is_radical_step_forward_news_280938.html\" title=\"Jessops revamps flagship store\">Jessops revamps flagship store<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/jessops_boss_we_can_pay_our_rent_bill_news_279270.html\" title=\"Jessops rent bill pledge\">Jessops&#8217; rent bill pledge<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_releases_store_closure_list_news_276895.html\" title=\"Jessops stores closure list\">Jessops store closure list<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/_Jessops_to_slash_jobs_as_17_stores_close_update__Breaking_news_news_276840.html\">Jessops to shut down 17 stores<\/a><\/p>\n<p><a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_confident_will_survive_tough_year_news_275789.html\" title=\"Jessops interview\">Interview with chairman<\/a><a href=\"http:\/\/amateurphotographer.co.uk\/news\/jessops_a_snapshot_of_history_update_news_274930.html\" title=\"History of Jessops\">History of Jessops<\/a><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/keyassets.timeincuk.net\/inspirewp\/live\/wp-content\/uploads\/sites\/12\/2009\/08\/DavidAdamslow.jpg\" alt=\"Jessops David Adams\"><\/img><\/p>\n<p>Picture: <em>Current chairman David Adams (above) largely blames Jessops&#8217; troubles on previous &#8216;overexpansion&#8217; and strongly denies claims by former boss Tim Brookes (below) that Jessops has left its core market behind<\/em><\/p>\n<p><img decoding=\"async\" src=\"http:\/\/keyassets.timeincuk.net\/inspirewp\/live\/wp-content\/uploads\/sites\/12\/2009\/08\/TimBrookes2.low_.jpg\" alt=\"Jessops Tim Brookes\"><\/img><span class=\"hidePageBreak\"><\/span> Adams: We are not run by the bank<\/p>\n<p>Adams also rebutted Brookes&#8217; claim that the business is now being run &#8216;for the bank, by the bank&#8217; and that it has &#8216;lost its way&#8217;.<\/p>\n<p>Brookes told the BBC: &#8216;The bank has to recognise that the business cannot service that [\u00a360m] level of debt. The bank has to take a hit. It is not acknowledging it has a problem.&#8217; <\/p>\n<p>Adams retorted: &#8216;We have made it very clear that we are working towards a solvent solution?&#8217;<\/p>\n<p>He confirmed that the capital restructure of Jessops is expected to conclude before the end of the summer, though he declined to comment further as negotiations continue.<\/p>\n<p>It is reported this will involve a &#8216;debt-for-equity&#8217; swap with its bank, HSBC.<\/p>\n<p>Adams remains optimistic about the firm&#8217;s future and expects recently appointed chief executive <a href=\"http:\/\/amateurphotographer.co.uk\/news\/Jessops_hires_Coffee_Republic_man_news_288022.html\" title=\"Jessops hires Coffee Republic man\">Trevor Moore<\/a> to play a key role.<\/p>\n<p>The storm broke out hours after Jessops reported a 4.7% fall in like-for-like sales for the 12 weeks to 16 August. <\/p>\n<p>Tim Brookes led a management buyout team in 1996, following the retirement of Alan Jessop.<\/p>\n<p>? A fuller interview with David Adams will appear in a future issue of AP<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jessops chairman David Adams has strongly refuted claims by a former boss that the chain has left the photographic enthusiast behind in favour of the mass market. <\/p>\n","protected":false},"author":324,"featured_media":22956,"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-22955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Jessops blasts former boss after radio outburst - Amateur Photographer<\/title>\n<meta name=\"description\" content=\"Jessops chairman David Adams has strongly refuted claims by a former boss that the chain has left the photographic enthusiast behind in favour of the mass market.\" \/>\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-blasts-former-boss-after-radio-outburst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jessops blasts former boss after radio outburst\" \/>\n<meta property=\"og:description\" content=\"Jessops chairman David Adams has strongly refuted claims by a former boss that the chain has left the photographic enthusiast behind in favour of the mass market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/\" \/>\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=\"2009-08-20T08:40:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-04-27T13:27:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2009\/08\/lowresJessops_shot.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"425\" \/>\n\t<meta property=\"og:image:height\" content=\"567\" \/>\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=\"3 minutes\" \/>\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-blasts-former-boss-after-radio-outburst\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/\"},\"author\":{\"name\":\"Megan Graye\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/#\/schema\/person\/09a37c0ec6db00d983eb2045e99ff2f1\"},\"headline\":\"Jessops blasts former boss after radio outburst\",\"datePublished\":\"2009-08-20T08:40:00+00:00\",\"dateModified\":\"2015-04-27T13:27:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/\"},\"wordCount\":564,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2009\/08\/lowresJessops_shot.jpg\",\"articleSection\":[\"Latest news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/\",\"url\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-blasts-former-boss-after-radio-outburst\/\",\"name\":\"Jessops blasts former boss after radio outburst - 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