Albemarle & Bond to open 25 new branches in 2012
Pawnbroker Albemarle & Bond has announced plans to open 25 new stores in 2012.
With fewer people able to get credit through banks, the company said it saw an opportunity for pawnbrokers to provide cash-strapped consumers with an alternative way to borrow.
The store openings will create more than 300 jobs in 25 locations across the UK and will focus on traditional pawnbroking services and gold buying from the public.
Albemarle & Bond’s chief executive Barry Stevenson said: “The pawnbroking industry has worked hard to change its image over recent years and people outside of our existing customer base are now starting to understand how we work.
He added: “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.”
In September Albemarle & Bond reported its 20th consecutive year of growth with a 5% rise in pre-tax profits to £21 million.
