Jessops investors urged to back winding-up

Jan 19 2010 Huddersfield Daily Examiner

INVESTORS in the former Jessops camera retailing business were urged to approve the wind-up of the company or risk getting nothing for their shares.

Shareholders have must vote today on the voluntary liquidation of Jessops plc, which owned the group’s 213 stores and website until September last year.

The company, labouring under a huge debt burden, sold assets to a new company 47%-owned by bank HSBC and 33%-owned by pension trustees, with the remaining 20% held by an employee trust.

A meeting on Thursday is set to wind-up Jessops plc, with shareholders receiving just 9.7p for every 100 shares owned if the liquidation is approved.