High-street camera specialist Jessops became the latest casualty of the high street today and filed for administration.
PwC has been appointed as administrator for the camera specialist, which has 192 stores and around 2,000 employees in the UK.
PwC said that Jessops had seen a significant decline in its core marketplace in 2012, and forecasts for this year indicated that the decline would continue.
Rob Hunt, joint administrator and partner at PwC, said that over the past few days directors, funders and suppliers of the company had been in talks to try and save the business, but to no avail.
“Trading in the stores is hoped to continue today but is critically dependent on these ongoing discussions. However, in the current economic climate it is inevitable that there will be store closures,” he added.