DLA Piper's Restructuring group is advising the administrators of AIM listed group, Albemarle & Bond Holdings plc and its subsidiaries, Albemarle & Bond Jewellers and Pawnbrokers Ltd and Herbert Brown & Son Ltd.

The team, led by partners Sarah Coucher and Lorinda Peasland, alongside Neil Riley, Sarah Groundwater, Marc Hecht and Zoe Stembridge have been appointed to act for administrators Mike Jervis, Peter Dickens, Toby Underwood and Stuart Maddison of PwC.

Albemarle & Bond is one of the UK's largest pawnbrokers with 188 stores throughout the UK. Albemarle & Bond, which is also a provider of short term loans, appointed the administrators yesterday following the announcement yesterday morning by the board that they had concluded that the appointment of an administrator was the most appropriate course of action.

Sarah Coucher, partner at DLA Piper stated: "Albemarle & Bond has unfortunately suffered over a period of several months with various challenges to its businesses. DLA Piper has a wealth of retail and financial services restructuring experience across the UK and internationally and this instruction continues a long line of high profile instructions for us in this sector."