Jessops may go private

Jessops could be the next retailer to fall into private equity hands. It is understood that buyout firms including CVC Capital Partners, which recently took a tilt at Sainsbury's, have considered a move on the chain.

The likelihood of a sale has been increased by the appointment of seasoned deal-maker David Adams as executive chairman. Adams was the deputy chief executive at House of Fraser, which was sold to a consortium of investors that included Baugur and Scottish billionaire Sir Tom Hunter for £351m last year.

He also sat on the board of Ottakar's, which was sold to HMV Group in 2006. Adams insisted he had not been appointed with a mandate to sell, but would work closely with chief executive Chris Langley to stabilise the business, which is expected to make a first-half loss of £8.5m. Its worried bankers called in a team of specialist accountants last month to monitor the company's ability to pay debts which are expected to exceed £50m this year.