The total value of unsecured creditor claims has risen to £114.8m – 135% higher than originally estimated, according to a new report by administrator PricewaterhouseCoopers (PwC).
PwC had estimated the figure to be less than £50m when the chain collapsed in January 2013, closing its 187 stores and shedding 1,500 staff.
The administrator says unsecured creditors are not likely to receive more than 0.2% of what they were owed.
Jessops bank, HSBC, is expected to receive just £2.67m of almost £30m outstanding.
The report, published earlier this month by Companies House, also reveals that PwC has racked up fees exceeding £2.5m since it was appointed administrator.
Jessops has since been taken over by entrepreneur Peter Jones who has so far reopened 28 shops.