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Jessops, the troubled photographic retailer, is eliminating more than 200 jobs only months after closing nearly a quarter of its UK stores.
David Adams, executive chairman, said that further cost cuts were needed because of the “difficult and uncertain” trading environment that has seen sales tumble in the past year.
The cuts will affect up to 8 per cent of the workforce, with assistant managers expected to be laid off across the Jessops store estate. Some roles at the head office will also go.
Jessops laid off 550 staff last summer in a rescue plan under which it closed 81 of its 315 stores to save £15 million a year.
The group has been hammered by fierce competition from the supermarkets and internet rivals and has been trying to focus on higher-margin products, such as digital printing.
A trading statement today showed that like-for-like sales fell by 5.1 per cent in the 25 weeks to March 22 with total sales down nearly 25 per cent after the store closures.
Mr Adams insisted that the group was still on track to meet its expectations for the financial year, given that stocks have been cut significantly.
The shares crept 0.1p higher to 7.45p.
He added: “Our trading performance reflects the difficult and uncertain environment we operate in and we continue to take actions to reduce the cost base of the business.
“These actions today, plus the restructuring activity undertaken in the second half of last year ... should benefit the business as we move into the second half of this year.
“The board remains confident that the group is on the right track to build sustainable profitability.”
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