However, Paphitis liked the idea and said that he was willing to back “two young guys trying to make it work”.
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Paphitis committed to giving Booth and Eves £50,000 for 30% equity in their business.
Theo Paphitis, who was formerly a 'Dragon' on BBC's Dragons' Den, acquired Ryman in 1995 and has since turned it into successful and profitable businesses comprising 236 stores with a group turnover of more than £120m.
In 2008, Paphitis was one of several interested parties in bidding for failed retail chain Woolworths.
They also rejected two offers of £100,000 each in exchange for 15% of the business by Peter Jones and Theo Paphitis.
Theo van Gogh | Theo Paphitis | Theo Kelly | Theo Walcott | Theo van Doesburg | Theo Jörgensmann | Theo Altmeyer | Theo van Gogh (film director) | Theo Bleckmann | Theo Uittenbogaard | Theo Loevendie | Theo Jørgensen | Theo Vennemann | Theo van Gogh (art dealer) | Theo Travis | Theo Maassen | Theo Kogan | Théo Kerg | Théo de Barros | Theo Bos | Theo | David Theo Goldberg | Vincent & Theo | Tom Theo Klemesrud | Theo Waigel | Theo Von | Theo Verschueren | Théo van Rysselberghe | Theo Van Leeuwen | Theo van Leeuwen |
Two of the BBC's 'Dragons' from Dragons' Den, Rachel Elnaugh and Theo Paphitis, were to invest in the Bedlam cube during the second series.
Theo Paphitis of television series Dragon's Den also attended, while the '80s band Bad Manners were famously formed at the school in 1976. They commemorated the 1981 closure of the school on the back sleeve of their Gosh It's... Bad Manners album, which reached number 18 in the charts that year.