By Michael Northcott Friday, 01 February 2013

Dragon's Den star Peter Jones to snap up Jessops

Supremely tall businessman Peter Jones, of BBC Dragon's Den fame, has bought a chunk of the failed camera retailer.

It’s only a few weeks since the administrators were called in for high street camera retailer Jessops, but PwC, which is handling the firms assets, said: ‘We can confirm that we have sold the brand and certain other assets to a number of buyers including entrepreneur Peter Jones.’

Nobody is really expecting the company to reopen any of its high street locations, but ‘certain other assets’, could mean leftover stock in the stores as well as any intellectual property that the chain might own.

The amount spent by Jones was not disclosed by the administrators, but given how suddenly and spectacularly the thing unravelled, we reckon he’s probably got it for a song.

It closed 187 branches resulting in the loss of 1,500 jobs. There has also been talk about a restructuring specialist firm called Hilco acquiring the Jessops brand. Hilco recently bought failed music retailer HMV after it fell into administration, too.

But it looks like Jones has sneaked in there for a good deal before anyone else got their mitts on it…

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest from MT

The European airlines still flying into Tel Aviv

The European airlines still flying into Tel Aviv

Yesterday the European Aviation Safety Agency followed its US counterpart by issuing a strong warning against flying to Tel Aviv's Ben Gurion International. But some airlines - including BA - are still operating flights to the airport.


Retailers bask in the sunshine as sales bounce back


Apple's research and development costs have risen 4%. What's it working on?


Was RBS really 'willfully obtuse' about small business lending?


So meta: Crowdcube breaks crowdfunding record by raising money for itself