Jessops is to close 81 of its stores as part of an emergency rescue plan aimed at keeping the struggling camera retailer afloat.
The company, which has warned on profits three times this year, said this morning HSBC had agreed to lend it £66.5m to enable it to reposition its business, particularly increasing its online presence.
The company revealed a £25.2m pre-tax loss for the six months to April 1, 2007, compared to a £5.1m pre-tax profit in the same period last year.
Jessops’ business has been hit by the increased use of the internet for processing digital camera photos.
