H&T weighs bid to salvage shops from troubled Albemarle & Bond

 
Michael Bow
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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.