then 315 stores, as "part of a strategic review, which aimed to save the Leicester firm £15m". HSBC acquired the company circa September 2009, in a "debt for equity" deal. The Financial Times commented that the company was hurt by the quality of mobile phone cameras, reducing demand for traditional cameras. On 9 January 2013, Jessops went into administration, with an application made to the High Court. On 11 January, it was announced that all 187 stores would close, with the loss of 1,370 jobs. Shoppers who put anywhere up to £500 on a gift card, found them useless, and the company ceased to accept customer returns, although manufacturers' warranties on products not branded by Jessops, were not affected. On 31 January 2013, however, the brand of Jessops, and various assets, were acquired by PJ Investment Group owned by entrepreneur, Peter Jones, one of the investors from the television programme, Dragons' Den. Various new companies were incorporated including Jessops (Group) Limited, Jessops Europe Limited and Jessops Retail Limited. Jones also incorporated Jessops Online Limited, at the same time. On 3 February, the supermarket retailer, Morrisons, agreed to purchase seven of Jessops larger store sites, from the administrators, for an undisclosed price, to be converted to the convenience store format by Morrisons, M Local. Reopening On 28 March 2013, six stores reopened, and Jessops aimed to open a new store every day on average during April 2013. One of the six opened on the 28 March, the store in Oxford Street in London, received considerable media interest, and was attended by several celebrities, including the actor James Corden. Another store in London, Birmingham, Manchester, Aberdeen and High Wycombe were the other five. St Albans opened on the 29 March. Several other stores reopened throughout April. All the new stores contained a mini labs, offering same day processing of photographic film. The company had reopened twenty eight stores across the United Kingdom, by September 2013. Jessops signed a landmark deal with Sainsbury's in July 2014, to start opening Jessops branches in its larger stores, the first of which opened in October 2014. There were fifty two stores of Jessops, by April 2016. ReSolve were appointed as administrators for JR Prop Limited, in December 2019. This company holds property leases and employs retail staff, the main trading company, Jessops Europe Limited, was not affected. On the 26 March 2021, Jessops announced that were