Pawnbroker H&T (LON:HAT) is buying the pledge books of one of its major rivals. The existing business is also trading more strongly than expected.
The assets of former AIM-quoted pawnbroker Albemarle & Bond were acquired by Speedloan Finance, but it decided to exit the UK market. H&T is paying £8m for 113 pledge books. This covers more than 35,000 pledges. These pledges can be redeemed through H&T stores.
This deal means that H&T is confirmed as the largest pawnbroker in the UK. The FCA has been fully informed about the deal.
Net debt was £11.6m at the end of Ju...
