Albermarle & Bond will open 25 new shops next year as it makes the best of a decline in lending from banks in these challenging economic times.
The pawnbroker aims to fill the lending void left by banks that hastily tightened their lending criteria.
Barry Stevenson, chief executive of Albermarle, told Retail Week: “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.”
300 jobs could be created as a result of the openings.
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