Jobs at risk as Jessops approaches administrators for property arm

Jessops Oxford fascia

Photographic retailer Jessops has approached administrators in a bid to salvage its struggling property arm.

The retailer, owned by Dragons’ Den star Peter Jones, has filed a notice of intention to appoint restructuring advisory firm Resolve as the administrator for its property arm JR Prop Limited, according to Sky News.

If an administration is confirmed, Jones is reported to be considering a CVA with creditors that would lead to store closures and rent cuts across its estate.

Jessops employs around 500 people and jobs would be at risk in any possible restructuring of the business.

Subscription content

Please sign in now if you have a subscription

Retail Week

Register to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.