Jessops has just announced that it is to go into administration. Speculation was mounting after it revealed that it was to close 15 stores in 2013. Last time the retailer came close to administration it was saved by HSBC doing a debt for equity swap and taking it off the stock market.
We blogged earlier this year that Canon had pumped in £10m into the chain, which has 200 shops, to ensure that people could view their products prior to buying them online.
Jacobs, another camera retailer went into administration earlier. It is no surprise that Jessops has felt the fierce competition from the Internet.
If you are an employee of Jessops and are worried then take a look at our help for employees pages.