Not The Best Investment For Dragons Den Star

0
Credit Twitter

 

The Dragons Den star has owned Jessops since 2013 when he bought it out of a controversial administration borne out of £81 million of debt led to the closure of 187 stores.

-- Advertisement --

Since then, while Jones has reopened some of the Jessops stores that shut down, the camera and photography retailer has not made a single profit.

Last year, it booked a £13 million loss as costs associated with rent shot up to £4.7 million.

Jones also predicted sales of at least £80 million during the first year Jessops was under his control, but the retailer only raked in £7.5 million for that year.


News of Jessops’ uncertain future comes a month after its now-former chief executive Neil Old was poached by H Samuel and Ernest Jones owner Signet Jewelers as managing director of its UK division.

English media reports today are stating the Company could shortly enter Administration.


 




LEAVE A COMMENT

Please enter your comment!
Please enter your name here