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 I?m excited that we?ve 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

Share this story

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
Send this to a friend