Telling the truth about SME life today

Jessops, a major victim of the recession, could be back on track

As a result of the credit crunch, Jessops stopped trading in January 2013, boasting debts of around 80m, with an additional 42.6m owned to listed creditors.

However, since being bought out of administration by Dragon’s Den’s Peter Jones, the company has reported healthy profits of 280,000. Jones also purchased Jessops’ online photo business for around 1m.

And it now has an ambitious expansion plan: opening six new stores the first of which will open in Tunbridge Wells this month.

Peter Jones said: This is a great result and Im excited that weve been able to restore an iconic British high-street brand.

“With the right formula and strategy, the high street is full of potential for growth and job creation our new stores will create over 100 new jobs before Christmas.

Our strategy for success is a multi-channel strategy, within which the high street plays a key role. It is all about giving shoppers choice on how to buy: either shop in-store (where they can get hands-on experience), order by phone, shop online 24/7 or benefit from the collect at store service.

Image source



Related Stories

More From

Most Read


If you enjoyed this article,
why not join our newsletter?

We promise only quality content, tailored to suit what our readers like to see!