AO World strikes deal with Peter Jones to snap up Jessops

AO World has struck a deal with Dragons Den star Peter Jones to acquire struggling camera retailer Jessops. The online retailer did not disclose how much it paid for the group but said the acquisition was funded from its “existing cash resources.” AO World said the deal “supports our strategy of expanding into adjacent categories, giving customers and members more reasons to shop with AO and increase our share of wallet. Jessops brings a trusted brand and specialist expertise in cameras and optical technology.” Founded in 1935, the camera retailer was rescued by Peter Jones after it fell into administration in 2013. Jones re-opened dozens of stores that had been shuttered, but by 2019 the company plunged into administration a second time, and then a third time in 2021. Jessops bets on online sales The company now operates from just eight stores, having previously run more than 300 up and down the country, after a rapid retreat from the high street. Jessops turned