The Proactive Network: FULLER TREACY MONEY StockTube
Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Albemarle & Bond on the brink as lenders pull the plug

Embattled pawnbroker Albemarle & Bond (LON:ABM) is on the brink after its lenders pulled the plug on a possible turnaround plan.

The company, whose shares have been suspended from trading on AIM until its financial position is made clearer, said it was told over the weekend its lenders would not be able to support management’s turnaround plan for the business.

The board said it is continuing to work with Albemarle & Bond’s lenders to find alternative options for stakeholders.

The remaining options available to the company however, including a sale, are unlikely to be of any value to shareholders.

The group’s struggles emerged last year following a slump in the price of gold.   


Timeline

View All

Related Articles

H&T Group said profits for the year just gone will be in line with market expectations as the pawnbroker weathered the impact of low gold prices, competition and regulatory change.

Venerable collectibles specialist Stanley Gibbons is building an experienced team and investing seriously in developing its bidStart platform as the collectibles market increasingly moves online.

© Proactive Investors 2015