Home > Uncategorized > The irony. A pawnbroker goes bust

The irony. A pawnbroker goes bust

albemarle & bond pawnbrokers in hammersmith, west london, england

Yes its true. And perhaps there will be few tears shed

http://www.insolvencynews.com/article/16884/corporate/albemarle-bond-appoints-administrators

Pawnbroking perhaps doesn’t quite have the best of images being seen as rather dickensian. Once the recession kicked in there was a degree of publicity about how these firms are once again on the rise having almost completely disappeared from the high street. Just as we saw with the “we buy gold” shops, they were suddenly everywhere

And this would appear to have been the difficulty with Albermarle. 

Naturally they assumed with a depressed economic environment the time was ripe for their business to prosper. Obvious? 

Too obvious in truth. And thats the difficulty. Businesses often overreact to economic conditions. In fact this is a familiar model whether it be luxury goods outlets sprouting during a minor upswing or pawnbrokers during a downswing

 

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