Albemarle & Bond plans to roll out 25 new branches
Wednesday 28 December 2011
Pawnbroker Albemarle & Bond plans to open 25 new stores in 2012 as it takes advantage of the difficult economic climate and banks tightening their lending criteria.
The store openings will focus on traditional pawnbroking services and on outlets that buy gold from the public. Up to 300 jobs could be created as result of the expansion programme.
Subdued high street rents are allowing firms like Albemarle to open new sites. Barry Stevenson, chief executive, said: "Since the recession, retail rates for high-street locations have finally returned to a sensible level, which allows us to be where our services are needed.
"However, compared to places like the US, the pawnbroking market here is still drastically underserved. We intend to address that through our expansion into new locations and by developing new channels to help people access our services more easily".
And it seems that pawnbrokers as well as the new breed of payday loan firms are continuing to fill the void left by banks, cautious over whom they lend money to.
"With fewer people able to get credit through the banks, pawnbroking has an opportunity to play an increasingly important role in many people's finances, whether they need some quick cash to get the car through its MOT, or run a business and need some cash to tide them over until a customer pays," Mr Stevenson added.
- 1 National Orgasm Day: Six reasons (plus one bogus one) why they're good for us
- 2 The 'world's most beautiful vagina' has been debunked by science
- 3 John Green schools morning show hosts after awkward interview with Cara Delevingne
- 4 Doctor Who: Christopher Eccleston says why he left the BBC series after just one series
- 5 'Rowdy' Roddy Piper dies: Wrestling legend dies aged 61, according to reports
What turns someone into a conspiracy theorist? Study to look at why some are more 'receptive' to such theories
Whoopi Goldberg tells Cara Delevingne to suck it up: 'She's not famous. I'M famous'
John Green schools morning show hosts after awkward interview with Cara Delevingne
Supermodel Gisele Bundchen mocked for wearing a burka to avoid being seen visiting plastic surgeon in Paris
'Rowdy' Roddy Piper dies: Wrestling legend dies aged 61, according to reports
Yvette Cooper: Our choice is years of Tory rule under Jeremy Corbyn – or a return to a Labour government
Labour leadership contender Jeremy Corbyn says 'we can learn a great deal from Karl Marx'
Is Britain really full up? Are migrants taking our jobs? Leading academic answers the most common anti-immigration claims
Calais Migrant Crisis: Deputy Mayor of Calais labels Cameron's use of 'swarm' as 'racist' and 'ignorant'
Public anger after French sunbather beaten up by gang for wearing a bikini in Reims park
Labour leadership: New poll shows party is now even 'less electable' than under Ed Miliband
iJobs Money & Business
£30000 - £35000 per annum: Recruitment Genius: This is an exciting opportunity...
£13000 - £15000 per annum: Recruitment Genius: Are you passionate about custom...
£22000 - £25000 per annum: Recruitment Genius: Main purpose: Under the directi...
£35000 - £37000 per annum + benefits : Ashdown Group: Contracts Manager - City...