Entrepeneur: TV star entrepeneur rescued by co-star

Adventure package company, Red Letter Days, founded by British TV star Rachel Elnaugh has been rescued by one of her co-stars.

The joint administrators for the company said it had been sold as a going concern for an undisclosed sum to AIC Ltd, which is backed by Theo Paphitis, the former chairman of Millwall Football Club, and Peter Jones, the head of Phones International Group. Jones is a panellist with Elnaugh on the TV show "Dragon's Den".