Jessops, the camera retailer, is to close 81 shops.
The closure, announced today in its half-year results, will leave 234 stores trading. Jessops will focus on creating a multi-Channel retailer to compete in the tough retail climate of online retailing and digital photography.
It said it would grow its digital printing and photo merchandise markets and step up its 'bricks and clicks' strategy through the jessops.com website.
The company has also agreed a new £66.5m banking facility with HSBC to December 2008
David Adams, executive chairman, said: ‘The strategy allows us to reposition Jessops as a true multi-channel retailer, building on our core strengths in the digital-imaging marketplace.’
In its interim results for the 26 weeks to 1 April it revealed that like for like sales were down by 2.8% and it made a pretax loss of £8.5m.