Peter Jones Wants To Put Jessops’ Property Arm Into Administration

Dragon’s Den star Peter Jones bought Jessops out of Administration in 2013 when it collapsed with over £81 million pounds worth of debt, however to this day Jessops has still yet to make a profit. Last year alone the company had a loss of £13m, £4.7m of this was down to rent costs increasing.

Peter Jones has filed a notice of intention to appoint Resolve as the Administrator for its property arm JP Prop Ltd in hopes to streamline Jessops and move towards profitability.

If the Administration of JP Prop Ltd is confirmed then Peter Jones is expected to seek a CVA for Jessops, which would result in store closures and rent cuts.