What have Jessops dome with all their stock???

Don't know. Thought about going down when they announced closure but then decided against it.
 
It depends how much of it they actually owned.

You see the bit on receipts that says ownership doesn't pass to you until payment has been received in full - Jessops suppliers will have similar wording on their invoices and until payment has been made any stock that Jessops had would revert back to the suppliers.
 
For some time, Jessops had been on a cash with order basis from some suppliers, hence the shortage of stock items. What new, unopened stock they had will go back to the suppliers. Open boxes and ex-demos may go back to be checked and sold as refurbs or may eventually turn up on 2nd hand shelves.

Not sure what's going to happen to things like their in-store large format printers - could be interested in one of them!
 
Thought i read that PWC were sending the contents of all the stores to a warehouse in Northampton (?) at the end of last week for sorting/return. What next................
 
I imagine that will be the own brand and low value stuff they could afford to buy when ordered. If it goes anything like Jacobs it'll be auctioned off. I suppose the same could happen to the printers they had in store.

I sorely doubt anything interesting will crop up if those auctions are opened to the public.
 
I went into my local Jessops on they day it was announced. It was packed.... Nothing going cheap, but the staff were all serving, and people buying......
A friend of mine got £350 in vouchers for Xmas!!!
 
What ever remains at the end of the day will more than likely be auctioned by the Administrators to raise funds to pay the creditors.

There was an online auciton when the last big retailer (Jacobs ?) went bust. Depends who they decide to use for the auction.
 
What ever remains at the end of the day will more than likely be auctioned by the Administrators to raise funds to pay the creditors.

There was an online auciton when the last big retailer (Jacobs ?) went bust. Depends who they decide to use for the auction.
 
Frey said:
Now that trading has ceased does anybody know where Jessops are selling their remaining stock?
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Normally when a limited company goes bust they are placed into the hands of an insolvency practitioner "the receiver" and the stock/assets held by the failed company is sold off to release cash for the preferential creditor/s which are normally their bankers.

Whether or not the stock/assets at Jessops premises have been paid for does not matter and that includes any purchases by customers that were not delivered prior to them ceasing trading. The suppliers who have not been paid would have to join the creditors list. Including customers who have paid for goods not delivered.

After the preferential creditor/s and the insolvency practitioner have taken their cut, if anything is left then the creditors may get a proportion. Probably very unlikely. Unless Canon and Nikon and all the other major suppliers have a legal charge on the Jessops assets they are just a creditor. The stock would NOT be returned to suppliers.
 
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Patrick1 said:
Normally when a limited company goes bust they are placed into the hands of an insolvency practitioner "the receiver" and the stock/assets held by the failed company is sold off to release cash for the preferential creditor/s which are normally their bankers.

Whether or not the stock/assets at Jessops premises have been paid for does not matter and that includes any purchases by customers that were not delivered prior to them ceasing trading. The suppliers who have not been paid would have to join the creditors list. Including customers who have paid for goods not delivered.

After the preferential creditor/s and the insolvency practitioner have taken their cut, if anything is left then the creditors may get a proportion. Probably very unlikely. Unless Canon and Nikon and all the other major suppliers have a legal charge on the Jessops assets they are just a creditor. The stock would NOT be returned to suppliers.
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It depends on whether the suppliers can show the liquidators that they have a valid retention of title. Those that can show this would be able to take back their stock. The problem a lot of suppliers have in this situation is that they don't have this covered very well and liquidators are quite ruthless in rejecting RoT claims if they can.
I would however be very surprised if the likes of Nikon, Canon, Sony etc didn't have this well covered in their T&Cs.
 
Knowing that Jessops was in a rather precarious position for some time I would expect that the manufacturers were supplying goods under a contract that said in the event of administration or other loss the stock would be returned to them.
Indeed it seems the first action of the administrators was to get staff to stock take and pack any stock.

I find it hard to believe the manufacturers would supply goods that hadn't been paid for without covering themselves.
 
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