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Dragon Peter Jones snaps up Jessops

He's in
Fri Feb 01 2013, 11:25
jessops

DRAGONS' DEN star Peter Jones has snapped up Jessops, administrators Pricewaterhousecoopers (PWC) announced on Friday.

Yes, you read that right. Peter Jones, usually referred to as the tall one in Dragons' Den, has bought Jessops, following the retailer's collapse in January. The camera retailer, which has been in business since 1935, announced that 1,370 jobs were at risk, and that all of its 187 shops would be closed.

While Jones has bought the company for an undisclosed sum despite competition from Hilco, it is believed that Jessops stores will remain shut, and that the business will operate solely online.

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."

It is thought that "other assets" refers to leftover stock and intellectual property, but this is still to be confirmed. We've contacted PWC for further information.

The collapse of Jessops in January was promptly followed by HMV announcing it had also gone into administration. The retailer announced the news on 15 January, revealing that its 250 stores and 4,000 jobs were all at risk.

However, like Jessops, HMV had some good news recently. Although sadly it didn't secure the backing of a Dragon, the firm announced that it had managed to sell its business to Hilco, which owns the Canadian arm of the entertainment retailer. µ

 

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