Pawnbroker H&T in talks to acquire some Albemarle assets

LONDON, April 7 (Reuters) - Britain's largest pawnbroker H&T said on Monday it had submitted a proposal to acquire some of Albemarle & Bond (Other OTC: ABMLF - news) 's assets, after the smaller rival entered administration.

H&T had said earlier this year that it was looking to make some acquisitions in the sector, despite being hit by the fall in price for gold.

Albemarle, which has also been hit by the fall of gold after it expanded heavily in 2011, put itself up for sale in December, but was unable to find a buyer. The company provides short-term loans to individuals and small businesses against items such as watches and jewellery and also buys gold.

Founded in 1983, Albemarle has more than 230 stores employing 1,000 people in total, according to its website.

(Reporting by Li-mei Hoang; editing by Kate Holton)