It has been reported that Jessops has filed an application for administration at the High Court.
Jessops has been hit badly recently by internet retailers and supermarket stores, and did not make the profits forecasted. The company has 192 stores nationwide, and employs over 2,000 staff.
It was reported that the market's decline was set to worsen in 2013, meaning the closure of some of the stores.
PricewaterhouseCoopers has been appointed the administrator, and it stated that the company would not at present accept any returns, or honour customer vouchers.
Jessops was founded in 1935, and is the latest in a long line of high street names to crumble in the present economic climate.
All shops set to close as administrators are unable to find a buyer for Jessops. 187 stores will be closed, and stock returned to suppliers where they are entitled to it. Nikon UK has commented
on the Jessops administration in an effort to assist customers affected.