The troubled Jessops brand has been bought by a group of business experts, including famous Dragon’s Den star Peter Jones.
The 78 year old Leicester based chain went into administration earlier this month which resulted in the closing of all 187 stores. 1,500 people were unfortunate enough to lose their jobs.
Administrators PricewaterhouseCoopers (PwC) announced the buyout last night but have not disclosed the value of the deal. It is not known if some of the stores may reopen.
PwC said “We can confirm we have sold the brand and certain other assets to a number of buyers, including entrepreneur Peter Jones CBE.”
Jessops was unable to cope with the rising competition from online stores such as Amazon who often have better deals on leading camera equipment. The company was founded in 1935 by Frank Jessop.
Last week news broke that Hilco were interested in buying the Jessops brand and opening camera concessions in HMV, another group they took over earlier in the month.
Kitguru says: What next for the Jessops brand?