Mike Jervis, Peter Dickens, Toby Underwood and Stuart Maddison of PwC have been appointed as joint administrators of Albemarle & Bond Holdings plc, Albemarle & Bond Jewellers & Pawnbrokers Limited and Herbert Brown & Son Limited which trade as Albemarle Bond and Herbert Brown.

The group is the second largest pawnbroker in the UK, with 183 branches and almost 900 staff, serving 140,000 customers. It provides a wide range of services for customers looking to access cash, including pawnbroking, gold buying, cheque cashing and unsecured lending. It also provides foreign exchange services and acts as a jewellery retailer. It has units in warrington, Widnes, stockport and Ellesmere Port.

As a result of the decline in gold prices, 40 of the group’s pop-up branches were closed in 2013. Against this backdrop, efforts to turnaround the business have so far proved unsuccessful, which has led to the company filing for administration.

In the North West, there are 43 stores and 150 staff