Foyleside photographic retailer Jessops has lodged application for administration at High Court in London

Wed, 09/01/2013 - 14:30 -- Editor

Jessops Foyleside and the Jessops photographic chain has applied for administration at the High Court in London today.

Jessops, which operates more than 200 stores, has had a tough time in recent years, and narrowly avoided going into administration once before, in 2009.

At that time, Jessops was bailed out by HSBC, but the bank took a 47% stake in the company in return for writing off debt of £34m.

The increasing use of mobile phones for photographic purposes slashed demand for digital cameras among 'fun' photographers, which is considered to be a major part of the downward spiral in Jessops' fortunes.