High Street retailer Jessops, the camera chain founded in Leicester in 1935 by Frank Jessop, shut all of its stores at the end of trading on 11/01/2013, resulting in the loss of about 1,370 jobs.
Administrator PricewaterhouseCoopers (PwC), appointed this week, said all 187 stores in the UK would shut.
Jessops is the first High Street casualty of 2013, after a raft of British firms fell into administration in 2012, including Comet and Clinton Cards.
The losses come after talks this week between Jessops and its lender and suppliers broke down after a poor Christmas.
Rob Hunt, joint administrator at PwC, said it was an "extremely sad day for Jessops and its employees".
"The stock will be collected over the coming days and returned to a central warehouse. It will be returned to suppliers if they are entitled to it. As a consequence of the closure, Jessops is no longer able to accept returned product from customers," Mr Hunt said.
"We will continue to ensure that employees are paid as they assist us during the closure."
The administrators announcement today also follows the news coming out of Swindon that Honda are to cut 800 jobs, blaming weak demand across Europe.
The Japanese carmaker, which began manufacturing there in 1992, has been hard hit by the eurozone crisis.
The Swindon plant, which produces the Civic, Jazz and CR-V models, employs 3,500 people, having added 500 to the workforce a year ago.
Honda has begun a 90-day consultation period on the job cuts and says it hopes to avoid compulsory redundancies.
The Swindon plants built 166,000 cars in 2012, which was well below the capacity of 250,000.
It was a big jump from 2011 when 97,000 were produced, but still significantly down from the 230,000 made in 2008.
In a statement, industry group the Society of Motor Manufacturers and Traders said it was very disappointing news.
Honda's decision to cut 800 jobs at its Swindon plant in the UK is the latest response by a carmaker to terrible market conditions in Europe, and many expect them to continue to fall a further 3% this year.
Carmakers fear the slump could last long, so many of them have already announced factory closures and tens of thousands of job cuts.
Report by Ian Bell