Mon, 06 Jun 2016 | ADMINISTRATION
A popular photography and camera retailer in Southampton has gone into administration citing intense online competition after 40 years in business, reports the Southern Daily Echo.
City Photographic had been a permanent fixture on Bedford Place in Southampton since 1971 after being set up by amateur photographer Roger Butterfield. At the time, there were 12 camera retailers in the city. However, with the rise of online retailers, the increasing use of mobile phones for most photography and the transformation of Bedford Place itself, the photography business has found it difficult to survive.
Other reasons cited by owner Roger Butterfield included a decline in the printing and framing of photographs, with many people now storing all of their memories in digital formats on their mobile phones, tablets and computers.
The distressed business has now been placed into administration, with RSM Restructuring Advisory handling the sale of all assets.
A statement from RSM read: “Due to a general decline in business over the last couple of years the company had become loss making and whilst the director considered other options there was no alternative other than to cease trading and close the store.
"It is always sad and disappointing when a long established business closes and we know the director would like to thank those customers who have supported him.
“Six employees were made redundant and it is unknown what the shop will be used for in the future.”
For more information, see the latest businesses in administration.
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