Merchant Equity Partners, the private equity group that owns furniture retailer MFI is considering a bid for Jessops, as the struggling camera retailer prepares to announce the closure of 80 stores this week. Sunday Telegraph
A private equity source confirmed that Merchant Equity is looking at Jessops but said that bid plans were at an 'early stage' and would depend on the outcome of a strategic review this week.
Jessops is this week to announce the closure of 80 stores, equivalent to a quarter of its 311-strong portfolio, as well as a cost-cutting programme.
It is understood that the retailer is close to coming to a new financing agreement with HSBC.
Merchant Equity targets struggling retailer and consumer companies in Europe. It bought MFI last year for £1.