Jessops plc shareholders have voted to voluntarily wind up the company after the Jessops store business was sold to new company Snap Equity in September.
The assets within the Jessops retail business - which is 47% owned by HSBC and 33% owned by pension trustees, with the remaining 20% held by an employee trust - remain unaffected.
KPMG will now liquidate Jessops plc which will result in the camera specialist officially delisting from the London Stock Exchange.
A restructuring plan is underway at the retailer, under chief executive Trevor Moore and chairman David Adams.
In September Jessops said it was laden with debt and that its only alternative to insolvency was the debt for equity swap.
Jessops has more than 200 stores.