When we heard that entrepreneur and Dragon’s Den star Peter Jones had bought the Jessops brand after it went into administration, anticipation started to grow about what life could be breathed back into the iconic brand. It’s become one of the most recognized companies in the UK, of similar status to Marks & Spencer and John Lewis, but struggled to keep the costs down and faced stiff competition. During it’s time as a PLC it experienced problems with loan repayments, forcing it’s bank to take it off the stock market and to swap debt for equity in the company (essentially the banked owned it). With heavy rent bills for the stores each month, the costs continued to be an issue and in January 2013, it was forced to call in the administrators.
A new owner brings a fresh approach, with the ability to start from scratch but with an instantly recognizable brand. The ‘new’ Jessops
is set to offer the same great value both in-stores and online, making sure you don’t have to search the net for a better deal. It’ll have a reduced number of stores (initially around 30 by the end of April), ensuring costs are controlled but there’s a store within driving distance. With more companies moving exclusively online, it’s refreshing to see life being put back into the high streets, especially with the camera market so you can try them before you buy.
So will it work? We certainly hope so, as there is no better place to get expert advice on buying cameras and it really is a one of a kind. Live on the Jessops.com site this month we’ve found some cashback offers on some digital SLRs, cutting the price even further, as well as making us more confident is will be as competitive as ever. Current deals include £50 cashback on selected Nikon and Canon cameras, free delivery on orders over £50, as well as 25% off selected digital printing services. With reviews available for every product and a special Academy to help you get more out of your new toy, there’s never been a better time to step away from the camera phone and take up a new hobby.
Peter Jones has great online experience himself and as Chief Executive and Chairman of Jessops, will lead from the front and use entrepreneurial determination that’s a scarcity within the big high street brands.