Share price of Albemarle & Bond dives again

<p>The directors of Albemarle & Bond are planning to sell the firm.</p>

The directors of UK pawnbroking company Albemarle & Bond have confirmed they are planning to sell the struggling firm.

Stocks in the company dived by more than 20 per cent on the back of the news, the second time the share price of the business has collapsed in a week.

The falling price of gold has proven to be damaging to the firm, with the value of the commodity down by 27 per cent since the start of the year.

Earlier today, a statement from the directors of the company stated that selling up is "in the best interests of the company's shareholders to seek to sell the business".

Albemarle & Bond recently resorted to selling off its own gold in a bid to raise money and a plan to raise £35 million in October failed.

The share price of the firm was down by almost 25 per cent by 15:18 GMT this afternoon (December 3rd) after investors responded badly to the sale of the business.

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