Partly Cloudy

Partly Cloudy

max temp: 20°C

min temp: 16°C

ESTD 1874 Search

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

09:24 01 February 2013

Dragons

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.

shares

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

shares

0 comments

Stephen Rose, SSE head of offshore wind generation

The man tasked with ensuring the smooth operation of a £1.6bn windfarm off the Suffolk coast has explained the challenges of overseeing 140 turbines capable of powering half-a-million homes and the contractual “crossroads” his firm faces next year.

Post Office services to return to Yoxford

The Post Office in a Suffolk town is moving to new premises, and will offer longer opening hours.

Dame Fiona Kendrick:, chief executive of Nestlé  UK & Ireland

Food giant Nestlé has announced plans to close its defined benefit pension scheme, sparking the threat of industrial action.

The Treasury has sold another 1% stake in Lloyds Banking Group.

The taxpayers’ stake in Lloyds Banking Group has fallen to below 16% after the Government sold off another tranche of shares.

The installation of solar panels on the roof of Precision Marketing Group's premises in Lamdin Road, Bury St Edmunds

A Suffolk-based firm will be among the organisations taking part in a nation-wide celebration of solar energy tomorrow.

Candy Gaga'’s Wanda Hewell, right, and daughter, Cherish.

Tower Ramparts in Ipswich now has its very own castle – thanks to the success of a local sweet shop business.

Stansted Airport

A report into the future of Britain’s airports does not rule out a second runway at Stansted – and raises fears of extra night flights to the Essex airport.

Growth in manufacturing eased last month  to its slowest level in two years.

Britain’s manufacturing sector grew at its slowest pace in more than two years last month, impacted by subdued demand from Europe.

Speedy Hire
 has warned that its results for this year will come in

Tool rental business Speedy Hire saw nearly a third of its stock market value wiped off after it announced the shock departure of its chief executive and warned over a major blow to full year profits.

Greene King chief executive Rooney Anand.

Pubs and brewing group Greene King today posted another year of record revenues, with sales within its key Retail division topping £1billion for the first time.

Most read

Topic pages