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Jessops: Hilco in talks over buying brand | Jessops: Hilco in talks over buying brand |
(35 minutes later) | |
The restructuring company, Hilco, is in discussions with the administrators PricewaterhouseCoopers about acquiring the Jessops brand. | 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. | 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. | 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. | 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. | 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. | "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. | Jessops collapsed mostly due to competition from online retailers. Some 1,500 people lost their jobs when its shops closed. |
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