New jobs have been created with the city centre opening
Ramsdens has opened a new store in King Edward Street, in Hull city centre(Image: Ramsdens)
Pawnbroker, jewellery and travel money chain Ramsdens has opened its latest store in Hull amid growing demand. The new shop on King Edward Street joins existing sites on Hessle Road and Holderness Road.
Four jobs have been created in the move which will see Ramsdens’ appear in the city centre, near the new Barclays branch. The shop will include its offer of new and pre-owned jewellery, luxury watches, loans, gold buyer and international money transfers.
Ramsdens has invested £500,000 in the expansion, which comes alongside a number of other shop openings around the country. A loose change collection scheme in the shop will also support Winner, the Preston Road Women’s Centre.
Boss Peter Kenyon told Hull Live: “We’ve got two great stores in Hull. And the Hull consumer likes our strong retail offer, exceptional foreign exchange rates and our pawnbroking service.
“We’ve been really well received in Hull. And now, this is about us coming to the city centre.”
The new store opening comes amid a strong period for Ramsdens which has been growing its revenue and profits as well as its shop network which now stands at nearly 170 nationwide. It has been helped by the soaring price of gold in recent months.
In results for year to the end of September, the London Stock Exchange-listed company saw revenue top £100m with operating profit of £17m. Mr Kenyon said the sale of gold coins had spiked in October, in the lead up to November’s Budget.
Many bullion coins, such as Britannia and Sovereign coins, are free from capital gains tax (CGT) because of their status as legal British currency. And on the back of high gold prices, Ramsdens has seen more customers clear out their jewellery boxes.
Ramsdens is now looking to open up to 12 new shops in the year ahead. The King Edward Street outlet is one of three that is opening between January and February.
Mr Kenyon added: “We have a highly relevant customer proposition and are looking forward to opening eight to 12 new stores in the year ahead whilst also continuing to strengthen our online proposition, which is offering more customers opportunities to use our trusted services.
“I would like to thank the whole Ramsdens team for their continued hard work and dedication to supporting our customers, whether they are treating themselves or a loved one to some jewellery, looking to raise cash from their own jewellery through a loan or sale, or exchanging currency to enjoy a holiday. We look forward to another year of good progress in FY26.”