Following falling profits Dragon's Den businessman Peter Jones is reportedly planning to seek a rescue deal for photography chain Jessops.
Mr Jones bought the high street brand in 2013 when it collapsed under debts of £81m.
Jessops has 46 stores up and down Britain including one in Leeds.
The BBC has today (October 16) at 5:40pm reported that Mr Jones is believed to be seeking a rescue deal for the firm's property arm, JR Prop Limited.
This would be a a company voluntary agreement (CVA) which would allow the business to reach an agreement with its creditors to pay off all or part of its debts.
Sky News reports that the CVA - if approved could put some of the company's estimated 500 employees at risk of losing their jobs.
The chain is the latest High Street brand to hit rocky waters - in 2018 big chains such as Toys R Us, Maplin and Poundworld collapsed and vanished altogether.
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