{"id":8875,"date":"2013-08-14T08:48:00","date_gmt":"2013-08-14T07:48:00","guid":{"rendered":"http:\/\/amateurphotographer.co.uk\/uncategorized\/jessops-administrators-rack-up-2-2m-in-fees-8875"},"modified":"2014-09-02T13:16:51","modified_gmt":"2014-09-02T12:16:51","slug":"jessops-administrators-rack-up-2-2m-in-fees","status":"publish","type":"post","link":"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/","title":{"rendered":"Jessops’ administrators rack up \u00a32.2m in fees"},"content":{"rendered":"

\n
\n Jessops’ former flagship store in New Oxford Street, London, has been turned into a Morrisons. The photo retailer has been taken over by the entrepreneur Peter Jones who has reopened 27 Jessops stores<\/em>
\n <\/sup>\n <\/p>\n

Thousands of customers were owed more than \u00a31 million when Jessops closed its 187 stores on 11 January and around 1,500 staff lost their jobs. <\/p>\n

Unsecured creditors have lodged \u00a348.8m in claims but former customers<\/a> face not receiving any money. <\/p>\n

The business has since been taken over by entrepreneur Peter Jones who has so far opened 27 Jessops stores and is eyeing up expansion<\/a> into Europe.<\/p>\n

To date, staff at PriceWaterhouseCoopers (PwC) have incurred \u00a32.2m in chargeable time for more than 7,500 hours of work to deal with the affairs of the business under its former bosses. <\/p>\n

Administrators’ fees are generally paid from the company’s assets.<\/p>\n

The accountancy firm says its fee \u2018does not necessarily reflect the amount that will be drawn as remuneration for this period in due course’.<\/p>\n

PwC staff have so far been paid \u00a3634,483, according to a list of expenses for the period 9 January-8 July which is contained in records held at Companies House.<\/p>\n

The \u2018progress report’ for JGLCC Camera Company Limited (formerly The Jessop Group Limited), published last week, shows that administrators have spent around \u00a35 million in costs since the retailer’s collapse.<\/p>\n

Expenses include \u00a3358,271 from a firm advising on store closure management and more than \u00a3167,000 on legal advice.<\/p>\n

More than \u00a3200,000 has been spent on storage costs and 88,000 on security. <\/p>\n

Cleaning and site clearance expenses have amounted to more than \u00a338,000, while collection and destruction of data alone cost around \u00a318,000. Postage costs have exceeded \u00a313,000.<\/p>\n

Meanwhile, PwC says it has dealt with around 18,000 orders and more than 1,000 \u2018repaired items’ that were collected to be returned to customers.<\/p>\n

At the time of its demise under former owners, Jessops owed around \u00a380m, including around \u00a320m to Canon and Nikon.<\/p>\n

Its bank HSBC was owed \u00a328m but faces a \u2018significant shortfall’, says PwC.<\/p>\n","protected":false},"excerpt":{"rendered":"

Administrators for Jessops\u2019 former owners have clocked up more than \u00a32 million in fees since the chain collapsed in January.<\/p>\n","protected":false},"author":324,"featured_media":6474,"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-8875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-photo-news"],"yoast_head":"\nJessops' administrators rack up \u00a32.2m in fees - Amateur Photographer<\/title>\n<meta name=\"description\" content=\"Administrators for Jessops\u2019 former owners have clocked up more than \u00a32 million in fees since the chain collapsed in January.\" \/>\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-administrators-rack-up-2-2m-in-fees\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jessops' administrators rack up \u00a32.2m in fees\" \/>\n<meta property=\"og:description\" content=\"Administrators for Jessops\u2019 former owners have clocked up more than \u00a32 million in fees since the chain collapsed in January.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/\" \/>\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=\"2013-08-14T07:48:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-09-02T12:16:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2014\/03\/jessop_new_ox_street_feb_2013altweb.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"390\" \/>\n\t<meta property=\"og:image:height\" content=\"261\" \/>\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=\"2 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-administrators-rack-up-2-2m-in-fees\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/\"},\"author\":{\"name\":\"Megan Graye\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/#\/schema\/person\/09a37c0ec6db00d983eb2045e99ff2f1\"},\"headline\":\"Jessops’ administrators rack up \u00a32.2m in fees\",\"datePublished\":\"2013-08-14T07:48:00+00:00\",\"dateModified\":\"2014-09-02T12:16:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/\"},\"wordCount\":326,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/other.kelsey.host\/amateurphotographer\/wp-content\/uploads\/sites\/16\/2014\/03\/jessop_new_ox_street_feb_2013altweb.jpg\",\"articleSection\":[\"Latest news\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/\",\"url\":\"https:\/\/other.kelsey.host\/amateurphotographer\/latest\/photo-news\/jessops-administrators-rack-up-2-2m-in-fees\/\",\"name\":\"Jessops' administrators rack up \u00a32.2m in fees - 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