Looks Like More Shops Will Be Closing Down On The High Street

[DrFilth]

you know times are tough when the pawnbrokers have no cash

http://www.theguardian.com/business/2014/mar/25/pawnbroker-albemarle-bond-administrators-pricewaterhousecoopers-jobs

[emmie]

loan sharks haven't got out of business, they may be taking over from pawn shops

[mikey4444]

One less pawnbroker on the High Street must be good news !

[emmie]

why? some people rely on them to get by, sell their jewellery to pay for bills, food, would you rather people went to loan sharks.

[naomi24]

Looking on the bright side, it could be a sign that things are improving and there is no longer a call for pawnbrokers.

[DrFilth]

naomi i think you will find they have no money so it looks like emmie has posted the truth some people will have no other option but to deal with loan sharks

[naomi24]

Dr.Filth, they have no money because business is bad. In other words, people aren't using them.

[emmie]

a woman was featured on the tv the other day, she borrowed 500 quid, which somehow, though i honestly can't remember the full story, escalated into hundreds of thousands pounds owed. Loan sharks are often nasty individuals, and you go to them at your peril.

[emmie]

perhaps its because they have nothing left to sell

[emmie]

this is the tale, she thought the man was a family friend, seems not

http://www.dailymail.co.uk/femail/article-2588129/I-borrowed-500-ended-paying-100-000-How-ruthless-loan-sharks-destroyed-one-mothers-life.html

[DrFilth]

naomi i think you will find when it all comes out in the wash they they have put too much into gold

and we all know how the price of gold has dropped

[emmie]

not according to the jewellers i saw recently, gold is still doing well.

[ToraToraTora]

"you know times are tough when the pawnbrokers have no cash" - oh dear, the opposite is true, pawnbrokers et al do well when people are boracic.

[naomi24]

I think we live in a throw-away society now. At one time people pawned things of value, grandpa's watch or husband's best suit, just to get from week to week. Now they buy cheaply so nothing is worth very much and those who want what they can't afford take loans instead often at appallingly high rates of interest, thereby digging the hole they're in even deeper. Society has changed.

[DrFilth]

we will see r1

[naomi24]

//they have put too much into gold //

Nonsense. Their businesses are no longer needed. TTT is right.

[DrFilth]

emmie

http://www.forbes.com/sites/maggiemcgrath/2014/03/25/gold-touches-five-week-low-but-the-goldbugs-say-its-still-the-best-hedge-against-emerging-market-volatility/

[emmie]

yr link, its still a good bet.

The unlikely redemption story of 2014 trading thus far — gold, one of 2013′s most unloved assets — got a bit of a plot twist Tuesday, as better-than-expected U.S. economic data sent the precious metal stumbling to its lowest levels in over a month. But the bulls are unconvinced that gold’s rebound is over and insist that the commodity will remain one of the best hedges against volatility abroad throughout the rest of the year.

[cassa333]

People can get abit more for their suff than a pawn broker from places like money magpie (I think) and because they are send off and get the cash in the bank people don't have to be seen going i the shop to get money.

[youngmafbog]

A badly run company that bites the dust.

Nothing to do with tough times, although as TTT points out the reverse is true for this kind of business!

[Peter Pedant]

good to see that people have a good grasp of market economics on this thread.

They have gone t+ts up because Gold has gone down

which I find a bit surprising - but there appears to be a direct link.
A bit like estate agents go bust in a housing slump even tho people have to move, and old people go on dying etc ....