Partly Cloudy

Partly Cloudy

max temp: 18°C

min temp: 11°C

ESTD 1874 Search

UK: Dragons’ Den star Peter Jones in deal to acquire Jessops brand

09:24 01 February 2013

Dragons' Den star Peter Jones

Dragons' Den star Peter Jones

FAILED high street camera retailer Jessops has been snapped up by a group of buyers that includes Dragon’s Den star Peter Jones.

The deal has been agreed by PricewaterhouseCoopers (PwC), which was appointed as administrator to the collapsed chain last month, but it is not known if the buyers will reopen any Jessops stores as part of the purchase.

Rob Hunt from PwC said: “We can confirm that we have sold the brand and certain other assets to a number of buyers including entrepreneur Peter Jones CBE.”

Jessops collapsed on January 9 and two days later administrators announced the closure of all 187 Jessops stores – which included branches in Ipswich Bury St Edmunds, Colchester, Lowestoft, Chelmsford, Cambridge and Norwich – and the loss of almost 1,500 jobs, including likely losses at the group’s head office in Leicester.

The camera giant was the first high-profile retail casualty of 2013, after suffering from online competition and a boom in camera phones in recent years, hitting demand for digital cameras.

Jessops had struggled since 2007, when it underwent a major overhaul with a swathe of store closures.

The firm began life in 1935 when Frank Jessop opened his first shop in Leicester.

Yesterday almost 190 jobs were axed at HMV in the first wave of redundancies following the stricken music and entertainment chain’s collapse.

HMV also went into administration last month, putting more than 4,120 jobs and 223 stores at risk.

Related articles

Search hundreds of local jobs at Jobs24

0 comments

Alton Towers in Staffordshire, whose owner, Merlin Entertainments, says it has

Alton Towers owner Merlin Entertainments said today it had “learned every lesson” from last year’s Smiler rollercoaster crash as it revealed that visitor numbers are still being affected.

The Coderus team at Innovation Martlesham

Two technology businesses based at BT’s Adastral Park complex at Martlesham Heath have teamed up to create an innovative security system.

Roys of Wroxham

One of East Anglia’s best-known family brand names is keeping an eye out for expansion opportunities and investing in technology as it continues to perform well.

David Wisbey of Essex law firm Birkett Long.

A care homes firm has praised the contribution of an Essex law firm in helping it acquire three homes in Northern Ireland.

Like-for-like sales at Sainsbury's fell once a gain in the second quarter.
Photo: Lauren Hurley/PA Wire

Sainsbury’s has posted a second consecutive quarterly fall in sales amid the continuing supermarket price war.

HOT JOBS

Show Job Lists

Most read

Most commented

Topic pages

Streetlife

Newsletter Sign Up

Sign up to the following newsletters:

MyDate24 MyPhotos24