COVID-19 Update

RNS Number : 4649H

Ramsdens Holdings PLC

25 March 2020

 

 

Ramsdens Holdings PLC

("Ramsdens" or the "Group")

COVID-19 Update

Ramsdens, the diversified financial services provider and retailer, has noted the recent announcement by the UK Government regarding the closure of non-essential stores. As a result, effective from yesterday, the Group closed all its stores in the UK until further notice.

As stated in the Group's trading update on 18 March 2020, Ramsdens has a strong balance sheet, including approximately £10m of cash and an undrawn £10m revolving credit facility. The Group welcomes the support measures for businesses outlined by the UK Government so far and plans to utilise those measures that are applicable to the Group. The Group will provide a further update as and when appropriate.

Peter Kenyon, CEO of Ramsdens, commented:

"The safety and wellbeing of our customers, colleagues and the wider community remains our top priority and we are doing what is best by them. We have been following Government guidance throughout this unprecedented period and, following the most recent Government instructions, yesterday we closed our shops until further notice. We look forward to once again opening our doors and serving all the local communities where we operate. Until that time, our jewellery website will remain active for our customers to browse our extensive range of new and second-hand jewellery and luxury brand watches."

Enquiries:

Ramsdens Holdings PLC    Tel: [phone]

Peter Kenyon, CEO

Martin Clyburn, CFO

Liberum Capital Limited (Nominated Adviser)   Tel: [phone]

Richard Crawley

Joshua Hughes

Hudson Sandler (Financial PR)   Tel: [phone]

Alex Brennan

Lucy Wollam

About Ramsdens

Ramsdens is a growing, diversified, financial services provider and retailer, operating in the four core business segments of foreign currency exchange, pawnbroking loans, precious metals buying and selling and retailing of second hand and new jewellery.  Ramsdens does not offer unsecured high cost short term credit.

Headquartered in Middlesbrough, the Group operates from 161 stores within the UK (including 4 franchised stores) and has a growing online presence.

In the last financial year, the Group served over 830,000 customers across its different services. Ramsdens is fully FCA authorised for its pawnbroking and credit broking activities.

www.ramsdensplc.com

www.ramsdensforcash.co.uk  

 

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