All posts tagged: jessops

Jessops back in profit after Peter Jones buy-out

The high-street photography chain Jessops has announced it will open six new stores across the country after reporting healthy profits in its first year of trading since it was bought out of administration by Dragon’s Den entrepreneur Peter Jones. Jessops, which was founded by Frank Jessop in Leicester in 1935, was the first major high street victim of the recession, entering administration on 9 January 2013 as a result of the credit crunch and consumer migration from film-based and digital cameras to mobile devices. Jessops ceased trading on 11 January 2013 with debts of around £80m, including £42.6m to listed creditors. In total, customers who had made deposits and not yet received goods were owed £201,000. The company has now announced an ambitious expansion plan after revealing an operating profit of £280,000 on the back of sales of more than £56m. Jesspos had a turnover in the year up to 31 December 2012 of £236m but had seen a major decline in its core marketplace. Jessops is set to open stores in Reading, Milton Keynes, Canterbury, Hull …


BJP Staff