The full scale of Jessops losses has now been announced – in total they had debts of £70 million, yes, that’s £70,000,000!
A quick breakdown of the larger debts and main creditors is as follows (and I make no apology for printing the sums in full – it helps focus the mind….):
- HSBC Bank £28,700,000
- Canon (UK) £16,400,000
- Nikon (UK) £3,300,000
- Sony (UK) £3,200,000
- Fujifilm (UK) £2,600,000
- Staff wages £1,400,000
- Tax £1,300,000
- Samsung £1,200,000
- Gift cards £869,000 (Bought as gifts but unused)
- Deposits £201,000 (Paid in advance for goods never supplied)
- Courses £183,000 (Jessops Academy courses paid for but not taken)
The company had assests of just £3,400,000
It makes you think that someone must have realised that it was spiralling out of control long before the plug was finally pulled.
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