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| Version 1 | Version 2 |
|---|---|
| Pawnbroker Albemarle & Bond bought by investment group | Pawnbroker Albemarle & Bond bought by investment group |
| (about 1 hour later) | |
| UK pawnbroker Albemarle & Bond has been bought out of administration by an investment group led by Promethean Investments. | UK pawnbroker Albemarle & Bond has been bought out of administration by an investment group led by Promethean Investments. |
| The deal includes 128 Albemarle & Bond branches and 628 jobs. The 59 branches employing 181 jobs not included will be retained by administrators PwC. | The deal includes 128 Albemarle & Bond branches and 628 jobs. The 59 branches employing 181 jobs not included will be retained by administrators PwC. |
| A new chief executive, Stephen Plowman, will be appointed. | A new chief executive, Stephen Plowman, will be appointed. |
| Promethean is leading the investment on behalf of an international investor group. | Promethean is leading the investment on behalf of an international investor group. |
| "The deal announced today was the best offer received, preserving the most jobs and keeping the most stores open," said PwC lead administrator Mike Jervis. | "The deal announced today was the best offer received, preserving the most jobs and keeping the most stores open," said PwC lead administrator Mike Jervis. |
| "All 120,000 pledged items remain safe and available for the customers to redeem." | "All 120,000 pledged items remain safe and available for the customers to redeem." |
| Former HSBC chief executive Sandy Flockhart, now one of the directors of Promethean Investments, told the BBC that a "small number of selected investors" were involved in the deal. | |
| "Albemarle & Bond will remain a feature of the High Street," he said. | |
| Promethean will retain some of the pawnbroker's management team, Mr Flockhart added. | |
| The deal was announced a day after rival UK pawnbroker H&T said that its discussions to buy Albemarle & Bond assets had ended. | |
| Albemarle & Bond appointed PwC as its administrators in March. Before going into administration the company made a number of attempts to resuscitate its business, resorting to melting down gold stocks in November last year. |