Jessops and HSBC reach deal as sales fall 6.4%

Jessops sales fell 6.4% for the year to 21 September, though management expects the company’s profit margin for the year to 30 September to have risen by 0.8%.

In a trading statement the high-street chain also announced an extension to its loan facilities with HSBC bank until 31 December 2011.

Commenting on the deal executive chairman David Adams (pictured) said: ‘This is a significant step forward as it removes any uncertainty over our funding for the foreseeable future. We remain confident that we have plans in place to ensure continued progress.’