CAMERA retailer Jessops has gone into administration, with 2,000 jobs including some on the Isle of Wight under threat.
The troubled photographic chain has a shop in St James Street, Newport and just under 200 stores throughout the UK.
The company confirmed today (Wednesday) it was unable to honour gift vouchers or accept returned goods.
Rob Hunt, joint administrator and partner at PwC, said: "Over the last few days the directors, funders and key suppliers have been in discussions as regards additional consensual financial support for the business. However these discussions have not been successful.
"In light of these irreconcilable differences the directors decided to appoint administrators and we were appointed earlier today."
He added: "Our most pressing task is to review the company's financial position and hold discussions with its principal stakeholders to see if the business can be preserved. Trading in the stores is hoped to continue today but is critically dependent on these ongoing discussions.
"However, in the current economic climate it is inevitable that there will be store closures."