April 14, 2014 / 6:17 AM / in 4 years

Pawnbroker H&T ends Albemarle & Bond asset talks

LONDON, April 14 (Reuters) - Britain’s largest pawnbroker H&T said on Monday it had ended talks with the administrators of its smaller rival Albemarle & Bond about buying some of the chain’s assets.

H&T submitted a proposal to the administrators of Albemarle & Bond a week ago.

Albemarle, which was hit by the fall of gold after it expanded heavily in 2011, put itself up for sale in December, but was unable to find a buyer. The company provides short-term loans to individuals and small businesses against items such as watches and jewellery and also buys gold.

Founded in 1983, Albemarle has more than 230 stores employing 1,000 people in total, according to its website. (Reporting by Paul Sandle; editing by Kate Holton)

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