PAWNBROKER H&T has entered the race to take over its troubled rival Albemarle & Bond (A&B) after entering into early stage talks with the company.
H&T, which is the biggest pawnbroker on the high street, is mulling plans to buy the stricken business or takeover a number of its outlets.
The pawnbroker faces stiff competition from a number of other suitors looking to rescue A&B, which is thought to include Jon Moulton’s Better Capital, US debt investor Apollo Global Management and A&B investor EZCorp.
A&B appointed Canaccord Genuity last week to help find a buyer for the company after a spate of troubles, including the resignation of much of its board and a nosedive in profits.
The company’s share price has fallen about 90 per cent since the start of the year. H&T and A&B declined to comment.