Peter Jones, the star of Dragons’ Den, is hoping that he can bring back the dying camera chain Jessops after the brand went bankrupt back in January. His first move was to hire back 300 staff members that originally were made redundant when the chain went bankrupt. However, while some of the judges on Dragons’ Den might think the move is odd, Jessops believes that it will be possible to resurrect the retailer.
Jones believes that he can bring back the camera chain by simply opening the doors of its closed 30 high street stores. In the process the store openings will help to create 500 jobs. Jones believes so much in the success of his company that he plans to be the chief executive and the chairman putting in £5m of his own money in order to turn the brand around.
He also has already re-hired 300 staff members that were fired when the company went redundant earlier in January of this year. However he said that in order to make the venture work in full he might have to leave the BBC show that he helped make famous. He said that he will struggle to run the new company and continue to do Dragons’ Den so only time will tell how things are going to end up working out.
Jones explained that in January he was shocked to hear that the company was going out of business and very shocked due to the fact that he just purchased a camera from the company in November. Thus, when he got back to the UK from abroad the first thing he did was start to make some calls and negations to purchase the business. He feels that the iconic status of the brand will help bring it back to life.