Some Jessops stores may re-open after brand buyout (update 9.38pm)
January 31, 2013
In a statement, Rob Hunt joint administrator at PwC told Amateur Photographer (AP): ‘We can confirm that we have sold the brand and certain other assets to a number of buyers including entrepreneur Peter Jones CBE.’
It is understood that ‘certain other assets’ refers to stock and intellectual property.
AP understands, from a well-placed source, that discussions over the future of Jessops are ruling nothing out, including the possibility of re-opening some Jessops stores through a cherry-picking process.
Meanwhile, retail restructuring specialist Hilco – which was among around half a dozen parties in the frame to take over the Jessops brand – has played a role in the deal, the financial details of which have not been released.
A PwC spokesman confirmed to AP: ‘Hilco has had a hand in it.’
Earlier this month, Hilco announced it was taking control of music retailer HMV, by buying the chain’s debt.
Last week it was reported that talks were underway to discuss the possibility of opening Jessops-branded outlets in HMV music stores.
However, in an interview with AP, former Jessops chairman David Adams questioned whether camera suppliers would be attracted to the idea of a Jessops-branded outlet inside an HMV store.
There is not yet any official word on whether remaining HMV shops will house Jessops outlets.
The PwC spokesman said that, as far as he was aware, Jones had not bought Jessops’ online business, in addition to the brand name, though this has been reported elsewhere.
Jessops closed its remaining 187 stores on 11 January, with the loss of around 1,400 jobs.