Partly Cloudy

Partly Cloudy

max temp: 17°C

min temp: 12°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

Uncertainty over Government policy is holding back potential investment in the offshore wind sector, according to East of England Energy Zone director James Gray.

The absence of a clear Government stategy is leaving the offshore wind industry “in limbo”, according to a leading figure within the sector in East Anglia.

The rate of growth in the UK economy rebounded during the second quarter of 2015, but the manufacturing sector continued to struggle, according to official figures.

UK growth bounced back in the second quarter of 2015 as gross domestic product (GDP) increased by 0.7%, according to official figures.

Ransomes Jacobsen operations director Simon Rainger addresses staff as the company's last Ransomes Commander mover leaves the production line.

Staff at Ipswich-based turf maintenance machinery maker Ransomes Jacobsen have marked the end of an era, with the last Ransomes Commander mower having rolled off the production line.

Charles Manning on the new patio area at Bears Boutique Bar and Bowling in Star Lane, Ipswich

Businessman Charles Manning is pleased with the way his Bears bowling bar and grill is fitting into the entertainment offer in Ipswich – and with the business community.

Barker Gotelee has welcomed Lucy Underwood, conveyancing assistant, Linda Crawford, solicitor, Nicky Sunderland. trust and estate planning practitioner, and Lisa Hobbs, junior secretary.

Ipswich-based law firm Barker Gotelee has welcomed four new employees across its expanding business.

A Ryanair aircraft atStansted Airport.

Budget airline Ryanair today reported a 25% jump in earnings for the first quarter of its new financial year.

Alton Towers in Staffordshire.

Alton Towers owner Merlin expects annual earnings for its theme parks business to drop by as much as £47million this year following last month’s rollercoaster crash.

Artist's impression of how an office development in Sheepen Road, Colchester, could look

A council has managed to secure tenants for a new office development before work has even begun on building it.

Manufacturers in the East of England are in confident mood, according to a new report.

Manufacturers in the East of England are helping to lead the way in exports and business confidence, according to a new report

Tom Gillman of Crafted.

Mediterranean Shipping Company, which has its UK head office in Ipswich, has launched a new global website, designed and built by locally-based digital agency Crafted.

Most read

Most commented

Topic pages