This time round it will be a smaller, more focused operation, with less debt.

Together with the chairman of House of Fraser, Don McCarthy, they have registered a new company at Companies House called Tecamol and they have taken on a new office above the Watches of Switzerland store on Oxford Street, but it is still early days — perhaps too early since the wreckage of their last business.

“We are not just going to lie down and do nothing,” said Johannesson.

Will he get support from the business community? “You will never know until you try it . . . but people have come forward and said they will back us. We will have the guts to try.

“People were always very sceptical about us — especially at the beginning, but it will not be the last you see of us.”

From the Times

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