pawnbroker

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Pawnbroker

The owner of a pawn shop, which is a place where one may pawn an item or buy items other persons have pawned. When one pawns an item, one receives a loan and gives the pawnbroker (the pawn shop's owner) possession of the item. One may retrieve the item within a certain period of time if one repays the loan with interest. If the loan is not repaid, the pawnbroker may sell the item in his/her shop. Because the pawnbroker already has possession of the item, he/she does not report non-payment of the loan and it does not affect the borrower's creditworthiness.

pawnbroker

a person or firm that makes LOANS, taking temporary possession of borrowers’ personal ASSETS as security for the loan. Borrowers can reclaim their assets by repaying the loan and interest charges in full, although if they default the pawnbroker is entitled to sell their assets.

Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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In addition to pawnbroking and gold buying, the company sells high-quality new and pre-owned gold and silver jewellery in its stores, as well as offering a range of other financial services including pay day advances and Speedloans.

Store expansion is golden opportunity

Despite the difficulties faced by the North-east firm, directors said it was well placed to capitalise on opportunities arising from the rationalisation of the pawnbroking market.

Ramsdens in profits blow as price of gold plummets

Five years later it acquired the Ramsdens business from its franchisor, quickly beginning a rapid expansion into the pawnbroking industry across Teesside.

Bosses in Ramsdens buy-out

H&T said profits for 2010 should exceed the upper end of market expectations of pounds 26m after consumers increasingly turned to its pawnbroking and Gold Bar jewellery buying outlets.

New stores help boost profits for H&T Group

'Pawnbroking suffers from an old image,' said John Nichols, managing director of Harvey and Thompson, a national chain with branches in Birmingham, Walsall, Dudley and Coventry.

Pawnbroker shops are closing; Customers like it because it is a non-judgmental, a quick and easy transaction and it is relatively cheap against other kinds of borrowing John Nichols

The other 11 continue to operate in areas such as pawnbroking or debt collection.

Payday lenders quit as watchdog gets tough

PAWNBROKING businesses have expanded in the wake of bank branch closures across Yorkshire, according to a report.

More of us are going for broke

Gold prices have surged above pounds 600 an ounce this year, boosting scrap prices and leading to a 30 per cent jump in revenues from the main pawnbroking business.

PEOPLE looking to cash in [...]; Business IN BRIEF

"I think, by and large, the stigma has disappeared," says Celia Flavell, manager of the Northfield branch of Albemarle & Bond, a national pawnbroking chain.

Welcome return of the pawnbroker

MIDDLESBROUGH pawnbroking firm Ramsdens has has become the first tenant of a new office redevelopment in central Middlesbrough.

Ramsdens first to move into Boho 6

The business has grown from a modest cheque-cashing business in 1950 into the UK's biggest independent pawnbroking firm.

Ramsdens reveals plan to double its operation; FINANCIAL SERVICES

The company, which offers payday loans and gold-buying as well as traditional pawnbroking, said that it expected its profits for this year to be "above the top end of current market expectations" of around pounds 20million.