Author: By Russell Lynch, Press Association
Struggling Jessops is laden with debt and said its only alternative was
insolvency because suppliers were unwilling to support it in the run-up to
the key Christmas trading period.
The Leicester-based firm, which has more than 200 stores, is selling its
assets to a new company 47 per cent owned by HSBC and 33 per cent owned by
pension trustees, with the remaining 20 per cent held by an employee trust.
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