Jessops has called in the administrators, putting 500 roles at risk of redundancy.

Dragons’ Den panellist Peter Jones bought Jessops out of administration in 2013, with rumours of a second administration starting in October.

The camera retailer is looking to cut costs by renegotiating rents and closing some of the loss-making stores across its 46-strong estate.

It reported to have called advisory firm ReSolve after failing to gain landlords’ approval for a Company Voluntary Arrangement (CVA).

Jessops’ main trading company, Jessops Europe, is not affected by the administration.

Parent company Jessops Group recovered from a £765,000 loss in 2017 to make a profit of £722,000 in the year to the end of April 2018, as sales rose nearly 20 per cent to £120 million.

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