A look at the history of camera specialist retailer Jessops which collapsed into administration yesterday.

Timeline

  • 1935: Frank Jessop opened the first store in Leicester.
  • 1970s: Jessops moved to a 20,000 sq ft store, which was named the largest photography store in the world by Guinness World Records. This was closed in 2008.
  • Early 1990s: Store network built up to around 50 stores.
  • 1996: A £30m management buyout of the previously family-owned company was led by former chief executive Tim Brookes backed by Bridgepoint Capital and PPM Ventures. The retailer acquires Crew Cameras and the City Camera Exchange, adding 25 shops to its portfolio of more than 50 stores.
  • 2000: The store network approached 200 but an IPO was postponed for fear Jessops was being undervalued.
  • 2002: Dutch bank ABN Amro’s venture capital arm bought Jessops for £116m.
  • 2004: Jessops floated on the stock exchange, valued at £160m, with Deutsche Bank, Investec and Barclays emerging as stakeholders in the business.
  • 2007: Jessops closed 81 of its 315-strong store estate after increased competition pushed its market share down and it fell into losses. Shares plunge 70% after the company issued its third profit warning in a year.
  • 2009: Jessops avoided administration in a debt for equity deal with HSBC, selling it to HSBC-owned special purpose vehicle Snap Equity. HSBC became its largest shareholder and it now has a 47% stake in the business.
  • 2012: Jessops chairman David Adams and chief executive of three years Trevor Moore leave the business. Martyn Everett is appointed chairman, while Neil Old is promoted to chief operating officer and tasked with leading the business.
  • 2013: PwC is appointed administrator as the retailer collapses.