EMCC European Monitoring Centre on Change

Albemarle and Bond

Company/Organisation:
Albemarle and Bond

Geographic Location

Country: United Kingdom

Company

Sector: Financial services
Financial and insurance activities
64.92 - Other credit granting
Number Employed: 400
Group: Speedloan Finance

Employment Effects

Announcement Date: 13-09-2019
Planned Job Reductions min: 400
Planned Job Reductions max: 400
Type of Restructuring: Closure

Additional Information

Pawnbroker Albemarle and Bond closed all 116 stores. According to reports, the business is still solvent, although it had apparently suffered from significant losses in recent times. The closure affects 400 employees, who have either been offered voluntary redundancy packages or have been told that their roles are subject to the consultation process. The speed of the decision has taken many industry commentators by surprise and has left many customers uncertain as to whether they will be able to retrieve their possessions.  

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