Jessops returns thanks to Dragon investment
Entrepreneur and Dragons' Den presenter Peter Jones is to re-open six Jessops stores over the next week
It looks like Jessops may be getting a second shot at the UK high street thanks to Dragons' Den presenter Peter Jones - who scooped up the rights to the chain when it went bust back in January.
Mr Jones is planning to reopen six stores over the course of the next week, followed by 30 more in following months.
He paid five million for the brand back in January and, as such, becomes the chief executive and chairman.
It's unlikely that Jessops will ever return to anything like the level it was prior to going into administration - it boasted 187 stores and 1,400 employees before the crash.
Instead, Mr Jones says he will focus on growing the online side of the business and focusing on the low-margin digital camera market.
"We're not going to be coming back into the high street and going back to 200 stores again; those days are over," he said.
"I don't believe we'll have over 50 stores unless we start to go into Europe, which I wouldn't rule out."
Mr Jones has said he will stay on to lead the business and expects to invest another £5 million into it over the course of the year to fund advertising.