I’m Out – TV Dragon Peter Jones off-loads ailing Jessops chain to leading electricals retailer AO

Former TV Dragon Peter Jones has sold ailing photography retailer Jessops to leading electricals retailer AO World, marking the end of an era for the once prominent high street institution. Jessops, which started with over 200 physical stores in the UK before Jones took control in 2013, was later reduced to its most profitable 50 outlets.

AO World's acquisition of Jessops includes just seven remaining high street locations. The deal supports AO World's strategy to expand into related product categories such as white goods, TVs, mobile phones, CDs, and video games. AO also acquired CD and video game reseller musicMagpie in December 2024, believing Jessops' Camera Jungle e-commerce platform will complement its existing operations.

AO is optimistic about Jessops' future, anticipating growth over the next year as it leverages its scale of operations, web traffic, and expertise. Despite a 6.5% revenue increase in 2024, Jessops has faced challenges due to declining camera sales and the impact of the COVID-19 pandemic. The retailer had previously called in administrators twice, in 2019 and 2021, before its eventual acquisition.

The final purchase price for Jessops remains undisclosed, but it is believed AO has funded the deal using its existing cash resources. The news of the acquisition caused AO's shares to drop by 8% on the morning of the announcement. As the Jessops brand enters a new chapter under AO's ownership, it remains to be seen how the camera retail giant will adapt and thrive in the competitive market landscape.