Pawnbroker in new year store expansion

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Pawnbroker Albemarle & Bond is to open 25 new stores in 2012 as people who can’t get bank credit look for other ways to borrow.

The new store openings will create more than 300 jobs across the country in a further 25 locations, expanding its portfolio across the Albemarle Bond and Herbert Brown brands to more than 175 retail stores.

Herbert Brown jewellers and pawnbrokers was founded in Leeds in 1840 and has more than 40 stores across the North of England.

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.

“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.”