Albemarle & Bond smelts its own gold jewellery to stave off bankruptcy Britain's second largest pawnbroker, said that it currently has debts of £50.1m, out of an agreed maximum of £53.5m. The pawnbroker's banks have agreed to delay tests on indebtedness until February 3. Shares in the group, which have fallen 83pc in the last 12 months as the price of gold fell, slumped 44pc to 21 pence in early trading, giving the group a market value of £11.7m. The firm, which also offers short-term loans to cash-strapped consumers, issued a profit warning in April. Albemarle & Bond's fortunes have fallen as the price of gold has slumped by 26pc this year. The company said its actions to control costs, including the closure of all but two of its gold-buying pop up shops, would not stop it making a loss at the core earnings level. "Tough trading conditions have continued to impact our results, but we are making progress controlling costs and managing within our constrained banking facilities," said Chief Executive Chris Gillespie.