Jessops in Costa Coffee shop claim
June 19, 2007
Jessops will close 80 stores, some of which may be turned into Costa Coffee outlets, according to a report in the Sunday Telegraph.
In response, Jessops has told us that it will not comment on press speculation.
The report, which appeared in the 19 June edition of the newspaper, comes just days ahead of the expected announcement of the results of Jessops? strategic review.
The Sunday Telegraph article also claims that Merchant Equity Partners, the private equity owner of furniture chain MFI, is considering a bid for Jessops.
The outcome of the strategic review, along with Jessops delayed half-year trading results, is due to be released ‘no later than 29 June’.
A UK spokesman confirmed to Amateur Photographer magazine that this deadline still stands.
Earlier this year shares in Jessops fell more than 70% after the high-street chain warned that it expects to report a half-year loss of £8.5m and not pay dividends to its shareholders for that period.
At the time Jessops blamed deteriorating market conditions – citing a 16.3% drop in digital compact camera sales (in value terms) for February, compared to the month before. Established in 1935 Jessops runs 311 stores nationwide.