High street camera chain Jessops could be about to hit the market after weeks of failed talks with landlords over a restructuring of the firm.
Dragons' Den star Peter Jones, who owns the company, is said to be holding talks with potential buyers of just six years after saving the retailer in a rescue deal.
The discussions with unnamed buyers are said to be at an early stage, and remain only one of the options being examined by the chain's board.
"It's now being looked at, but it's far from certain," one source told Sky News.
News of the potential sale comes six weeks after Jones filed a notice of intention to appoint administrators to JR Prop Limited, which manages Jessops' leasehold stores.
That notice was extended amid efforts to persuade landlords to support a Company Voluntary Arrangement (CVA), a restructuring deal that would have led to closures of its most underperforming stores.
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In total, Jessops employs around 500 people in the UK, with an unspecified number of jobs at risk from a restructuring of the business.
Jones - who has held stakes in firms including Red Letter Days and Levi Roots - bought Jessops six years ago from administrators following a previous spell in insolvency that cost as many as 2,000 jobs.
He reportedly bought the company for less than £2million in 2013, prompting the return of the retailer to the high street.
Sources close to Jones said that since then, he has invested heavily in the business, including £5million in 2019 alone.
The camera retailer which collapsed under debts of £81million - then re-opened its doors in April that year.
Jones, best known for his appearances on the BBC’s Dragons Den programme, bought the Jessops brand, residual stock and certain other assets from administrator PwC as part of a joint venture with restructuring specialist Hilco.
It had initially been thought the scaled-down Jessops would operate as an internet-only brand.
Mirror Money has contacted Jessops for a comment.
The news comes just weeks after Mothercare announced its collapse , affecting 2,869 workers at all 79 stores UK wide.
The company is no longer accepting gift cards - and stores have already launched closing down sales .
