Albemarle & Bond shares dive

<p>Shares in Albemarle & Bond have plummeted today.</p>

The share price of one of the UK's leading pawnbrokers has collapsed today (October 2nd).

Stocks in Albemarle & Bond lost more than half their value after attempts to push through a £35 million share sale fell through.

EZCORP International, its biggest shareholder, could not be persuaded to give the green light for the share sale and stocks had lost 51.45 per cent of their value by 14:43 BST this afternoon.

Albemarle & Bond's fortunes have faded over the course of the last few months as the price of gold has dropped due to the global economy recovering from the recession.

With the value of the precious metal down more than 30 per cent in the nine months to the end of June, pawnbrokers such as Albemarle & Bond have seen their revenues fall.

As the afternoon session continued on the London Stock Exchange, the share price of the company continued to fall rapidly, leading to speculation the firm may be set to fold.

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