There was zero like-for-like growth for the four weeks to January 7, and over the 23 weeks to the same date there was a decline of 4.9 per cent.
Chairman Philip Dunne expects the difficult trading climate to continue for the rest of the year, and said: 'The company is re-evaluating its operations to meet new challenges and opportunities.'
Details will be unveiled with full-year results in March, but the retailer is already acting to cut costs, boost margins and seek out new sales openings.
As a result, there will be 'some write-off in systems development, stock and impairment and dilapidation cost for some stores' assets at the end of the current year'.
Ottakar's is the subject of a takeover by Waterstone's owner HMV. The deal has been referred to the Competition Commission, which is expected to report in May.
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