{"id":27203,"date":"2007-09-25T11:25:00","date_gmt":"2007-09-25T10:25:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/jessops-silent-on-deloitte-sale-option-rumours-27203"},"modified":"2014-09-02T18:23:00","modified_gmt":"2014-09-02T17:23:00","slug":"jessops-silent-on-deloitte-sale-option-rumours","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-silent-on-deloitte-sale-option-rumours\/","title":{"rendered":"Jessops silent on Deloitte sale option rumours"},"content":{"rendered":"

Jessops has refused to be drawn on press reports suggesting that the firm has hired financial advisers at Deloitte to consider whether the group should be refinanced or sold.<\/p>\n

In June, Jessops<\/a> secured \u00a366.5m of funding from HSBC bank for the next 18 months.<\/p>\n

The retailer is battling to return to profitability in 2008 and ensure its business is ‘fit for purpose’. <\/p>\n

Bosses plan to close 81 stores by 30 September and hope to reduce total overheads by more than \u00a315m. <\/p>\n

Meanwhile, it seems Jessops is still searching for a new finance director to replace Ian Harris (pictured), after announcing that he will leave the company at the end of this month. <\/p>\n

Asked whether Harris has yet been replaced a spokesman today told us that there was no further news.<\/p>\n

We understand that Ian Harris?s departure was not the result of a falling out with Jessops executive chairman David Adams<\/a>, as suggested in a report published on the website of Accountancy Age<\/em> magazine on 20 September.<\/p>\n

Jessops routinely declines to comment on such speculation.<\/p>\n

Harris joined Jessops in November 2006 and has principally been working with HSBC on the group?s refinancing, now completed.<\/p>\n

In a statement, dated 13 September, David Adams said: ?We would like to thank Ian for his considerable input into the refinancing process and wish him well for the future.?<\/p>\n

Jessops has stated that it plans to stock more digital SLRs<\/a> and less compact cameras as part of a huge shake up of its business which will close a quarter of its stores.<\/p>\n

Jessops reported a pre-tax loss of \u00a325.2m for the six months to 1 April.<\/p>\n

As part of its restructuring, the high street chain plans to shed 550 jobs. <\/p>\n

Picture credit: Chris Cheesman<\/p>\n

NEWS UPDATE 27 SEPTEMBER: Jessops chief executive resigns<\/a><\/p>\n

Click below for our previous stories about Jessops plans:<\/p>\n

Branding promotion<\/a><\/p>\n

DSLRs key to success<\/a><\/p>\n

New Chairman<\/a><\/p>\n

Jessops speaks out<\/a><\/p>\n

Jessops tight-lipped<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Jessops has refused to be drawn on press reports suggesting that the firm has hired financial advisers at Deloitte to consider whether the group should be refinanced or sold.<\/p>\n

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