Sales at Jessops plummeted 26.6 per cent year on year in the 10 weeks to December 9. Like-for-like sales also fell, by 7.3 per cent.

The photographic specialist made a loss of£7.5 million for the year to September 30. For the same period in 2006 the retailer had made a profit of£13.2 million.

Jessops total revenue for the financial year was£325.5 million, dropping from£350 million for the same period last year. Like-for-like sales for the period were down 8.7 per cent.

The retailer has closed 81 stores this year and reduced overheads by 20 per cent to try and turn around the struggling business. It also disposed of£16.8 million of clearance stock.

Jessops executive chairman David Adams said: “We have put the business in a stronger position for the future. Despite challenging market conditions we have delivered on our initial goals, with the restructuring programme and have set out the strategic framework for the business.”

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