Wilson PonJessops Having a Serious Issue Here
July 4th 2009 11:25
Jessops, one of the world’s renowned camera retailers, had mentioned earlier on the company interview that they might be a further job cuts. The even worse thing is the company’s share is likely to be worthless in an upcoming half-yearly trading update!
Jessops have declared a restructuring for the company, where the main intention is to clear out the £60m debt.
Believe it or not, the shares in the retailer had slumped by 67% and it’s a very terrible condition. Due to the unexpected slump, all the Jessops’s shareholders were being told not to get any dividend for the first quarter of 2009!
The Jessops representative said that the huge loss of Jessops is mainly caused by the shift from the analog to digital photography. In the last two years, Jessops said they’ve been fired more than 250 head office staffs. They’re not hesitate to fire more staffs, if the recession is getting worse!
PS: Picture thanks to greenwichmeantime.
Jessops have declared a restructuring for the company, where the main intention is to clear out the £60m debt.
Believe it or not, the shares in the retailer had slumped by 67% and it’s a very terrible condition. Due to the unexpected slump, all the Jessops’s shareholders were being told not to get any dividend for the first quarter of 2009!
The Jessops representative said that the huge loss of Jessops is mainly caused by the shift from the analog to digital photography. In the last two years, Jessops said they’ve been fired more than 250 head office staffs. They’re not hesitate to fire more staffs, if the recession is getting worse!
PS: Picture thanks to greenwichmeantime.
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