Business

Jessops: Hilco in talks over buying brand

Jessops exterior
Image caption The camera chain went into administration just after Christmas due to online competition

The restructuring company, Hilco, is in discussions with the administrators PricewaterhouseCoopers about acquiring the Jessops brand.

PwC is still trying to negotiate the sale of Jessops' brand and website after the closure of its 187 branches.

This week, Hilco agreed to take on all of HMV's debts, giving it effective control of the company.

There are reports that Hilco is considering opening Jessops concessions in HMV stores.

Hilco is merely considering options at this stage and nothing is definite, says BBC business correspondent Emma Simpson. PwC is also talking to other interested parties.

The administrators, who were appointed to run the camera chain just after Christmas, would not comment on the development, which was first reported in Retail Week.

"We have a number of people interested in the brand but we will not disclose or confirm individual parties as this is confidential information," said Rob Hunt, Jessops joint administrator and PwC partner.

Jessops collapsed mostly due to competition from online retailers. Some 1,500 people lost their jobs when its shops closed.

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