Bury St Edmunds store could be in danger as Jessops plans to call in administrators

Struggling high street brand Jessops, which has a store in the arc Shopping Centre in Bury St Edmunds, could be the next business to call in administrators, following reports that a company voluntary agreement could be agreed by its owner Peter Jones.

The firm, which has 46 shops and employs 500 people, reported a £13m loss last year as its rent costs for the stores increased to £4.7m.

The Dragon's Den star bought Jessops from administrators in March 2013, but it has not made any profit since the takeover.

Now Mr Jones is reportedly seeking a rescue deal, known as a company voluntary agreement (CVA), this process allows a business to reach an agreement to pay off all or part of its debts.

Sky News has said the CVA was expected to lead to store closures and rent cuts.