Flash sale: AO snaps up camera seller Jessops from Dragons’ Den star Peter Jones
Online electricals retailer says latest purchase continues to broaden its appeal beyond white goods, phones and TV Business live – latest updates The troubled camera retailer Jessops has changed hands after AO World acquired the business from the Dragons’ Den star Peter Jones. The online electrical retailer said on Thursday it had completed the acquisition of Jessops. Continue reading...
AO World has finalized the acquisition of camera retailer Jessops from Dragons' Den entrepreneur Peter Jones. This latest purchase continues AO's strategy of diversifying beyond its core white goods, mobile phones, and TV categories. The troubled camera company, founded in 1935, completed its sale to AO for an undisclosed sum, including its remaining seven UK stores.
AO's acquisition of Jessops, along with its Camera Jungle re-commerce business, bolsters AO's circular economy credentials and expands its product range to include cameras and optical technology. AO CEO John Roberts expressed delight at welcoming Jessops into the AO family and plans to leverage AO's scale, web traffic, and operational expertise to drive Jessops' growth over the next year.
Despite a 6.5% revenue increase to £19.8 million and a pre-tax loss of £1 million in 2024, Jessops posted a slight improvement in financial performance. Founded in 1935, Jessops has faced a challenging history over the past two decades, with Jones' PJ Investment Group acquiring the chain in 2013 after it emerged from administration.
Over 1,370 jobs were lost in 2021 following a second administration, before a limited reopening of stores in 2019.
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