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