Jessops Marketing Manager Brian Linnington has written directly to AP on the company’s strategic review and plans for clearing out ‘aged stock’.
AP has been working with Brian in the last few months to strengthen the co-operation between the magazine and Jessops, as well as to form better channels of communication and a better relationship.
As you are aware, the Board at Jessops have been working on a Strategic Review over the past three months. I am pleased to announce that this work has now been completed and the results have been announced to the City this morning.
During this process, we have been working closely with both our bank, HSBC, and their advisors from PWC, to determine the future shape and direction of the business. I am very pleased to confirm that the company now has the long term support of the bank. This is clearly very good news and a major milestone for both of our companies.
The review has covered our store and multi channel strategies in addition to both short and longer term initiatives that will help maximise the profitability of the organisation. As part of the review, we are taking the opportunity to clear our ?aged? stock. This will be done using both our stores and wholesale routes. Aged stock has been a historical issue for the business for a number of years and this action will have an immediate positive impact onto the business.
Further details can be found on www.jessops.com/corporate.
On behalf of Jessops, I would like to thank you personally for the support that you have given the business during this challenging time.
We believe that Jessops has a unique position within the imaging market in the UK. We are confident that the actions detailed in the Strategic Review will help Jessops to build upon our position as the number one specialist photographic retailer in the UK for many years to come.
Jessops will be holding a press conference at 11.00 this morning (July 21) after which we hope to bring you more news and comment.