Tag Archives: insolvency

Vouching for solvency

It’s clear Jessops hadn’t had an easy time of it for a long time. A debt for equity swap (2009) is never a good sign &, realistically, it’s tough to see how they could survive selling luxury items (and smartphones and recession really have made most standalone cameras a luxury as far as I can see) at prices significantly higher than those being offered online. Their collapse has prompted me to write this blog but I should make it clear that I’m blogging the broad issue out of my system. I’m not pointing fingers at Jessops. I’ve read a few things about what led to their collapse: suppliers renegotiating terms, HSBC not selling when they had an offer, generally poor trading with a small number of store closures before the administration. Whether, to what extent and (most crucially for the purposes of this blog) when these factors (and others I haven’t read about) led to their collapse, I don’t know. I don’t know what went on behind closed doors.
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