traditional pawnbroker sign
The UK’s biggest pawnbroker, H&T which has over 120 branches across the country has said the business is trading well ahead of expectations as cash strapped Britons continue to trade in their valuables for cash.
H&T have opened 56 new outlets in shopping centres across the UK over the last year, recognising the growing recession fuelled surge in demand for their services. The company are planning a further twelve shops in the coming months.
The pawnbroker chain deals almost exclusively in gold and diamond set jewellery and say they have ‘benefited considerably’ since June 2009 with higher Gold purchasing volumes.
H&T which started out in 1897 as Harvey & Thompson with a shop in London’s Vauxhall Bridge Road, says that the current trend may not be sustainable and has therefore taken premises on short term leasing.
The number of pawn broker outlets in the UK has risen by 25% to over a 1,000 in the last five years.
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