RIP JSP

Jessops, the troubled UK-based photography retailer, will be de-listed from the London Stock Exchange early next year according to an interview with Chairman David Adams in Amateur Photographer magazine.

Just six weeks ago, Jessops announced that its main operating company was being sold to a newly formed company called Snap Equity Limited, of which 47% is owned by HSBC, 33% is owned by the company's pension fund, and 20% is owned by an Employee Benefit Trust. As part of the deal, HSBC withdrew its claim on a £34mn debt owed to the bank by Jessops plc.

The private equity arm of ABN Amro floated Jessops in November 2004 at £1.55 a share. Today's share price is £0.01 and the company is capitalised at just £1.14mn.