Jessops has said it will have no problem meeting its quarterly rent bill that is due this week after speculation cast doubt on the retailer’s ability to pay.
In a statement to the Stock Exchange, Jessops said: “Jessops does not normally comment on press speculation but confirms that its rental commitments due this week will be met. Jessops continues to have good relationships with its suppliers and landlords and discussions with HSBC are ongoing.”
On Wednesday, retailers will face a quarterly rental payment that could push embattled companies into administration.
Jessops has revealed its like-for-likes have “held up relatively well”, down 1 per cent in the seven weeks to March 15, compared with a slide of 8.3 per cent last year.
In the 24 weeks to March 15 like-for-likes dropped 3.5 per cent, compared with a decline of 5.5 per cent last year.
The retailer said its gross margin has “also held up” since Christmas.
In the 22 weeks to March 1, 2009 gross margin was 27.3 per cent, which the retailer said is in line with the gross margin for the 13 weeks to 28th December, 2008.
Jessops said: “This is a good performance as the period since Christmas includes the sale.”