Peter Jones, the entrepreneur known for his role on Dragons' Den, has sold the struggling British camera retailer Jessops to AO World, an online white goods business led by John Roberts. The transaction, announced recently, marks a new chapter for Jessops more than a decade after Jones initially stepped in to save the company from administration.

Jessops, once a prominent name in British photography retail, has faced significant challenges in recent years. The business has entered administration three times since 2013, when Jones first acquired the brand and some of its assets following its initial collapse. At its height, Jessops operated over 300 stores, but the company has since contracted dramatically, currently maintaining just eight locations.

The 2013 rescue involved Jones investing £5 million of his own capital, reopening 30 outlets, and re-employing hundreds of former staff members. At the time, Jones described Jessops as an "iconic British brand" with potential to revitalize high street retail in the UK. However, the company continued to struggle amid shifting consumer habits, predominantly the rise of online shopping and improvements in smartphone camera technology that reduced demand for traditional cameras.

The subsequent years saw Jessops enter administration again in 2019 and later in 2021. After the latest difficulties, Jones agreed to a company voluntary arrangement with creditors, attempting to stabilize the business.

The recent deal with AO World includes not only Jessops but also Camera Jungle, the retailer’s second-hand photography business. AO World plans to leverage its operational scale to support growth and integrate Jessops’ specialist expertise in photography into its broader product range. This integration will sit alongside musicMAGpie, a second-hand electronics business acquired by AO earlier in 2024.

John Roberts, AO World’s chief executive, expressed optimism about the acquisition, saying he looked forward to expanding the existing Jessops business and incorporating its category into AO’s wider offerings.

Jessops was originally founded in Leicester in 1935 by Frank Jessop and developed into a national chain that became one of the UK's most recognizable photography retailers. Despite multiple attempts at rejuvenation, it has struggled to maintain a foothold in a rapidly evolving market. The sale to AO World presents a new opportunity to leverage the company’s heritage within a larger, digitally focused retail platform.