Potential buyers circle Red Letter Days

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Red Letter Days, the gift experience business founded by Rachel Elnaugh, TV 'personality' and only female member of BBC2's Dragons Den, went into administration on Monday. This was followed on Tuesday by news of a possible rescue by fellow Dragon Peter Jones and Theo Paphitis, the former chairman of Millwall Football Club, who are discussing buying the business with the administrators, Kroll.

Elnaugh's problem is potentially embarrassing for the BBC, which has only just finished recording a second series of Dragon's Den. On the show, budding entrepreneurs pitch their ideas in the hope of impressing a team of self-made millionaire business 'gurus', and persuading them to invest in their dreams. The Dragons are a tough panel of judges, and the show's appeal lies in a combination of their scre...

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