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Of Pawnbrokers And Interest Repaid

April 10, 2009

Of Pawnbrokers And Interest Repaid

Thomas Mathew writes: Three years ago a friend of mine who lives in north London told me that, in his opinion, Britain was on the verge of slipping into a recession because he had noticed several new pawnbrokers opening in the area. My friend said that it was a sure sign that things were going downhill, adding that the new pawnbrokers were spending serious money on their offices, obviously planning to add some respectability to their operations. ‘Imagine,’ he said. ‘These people actually want to be seen as bankers rather than loan sharks that they are.’ On hearing this I remembered an incident in 1994 when the directors of a pawnbroker T.M. Sutton Limited, which in those days was a wholly owned subsidiary of the Crown Jewellers Asprey Plc., were summoned to appear before the... 

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Category: Consumer Watch 
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