LONDON, March 24 (Reuters) - British pawnbroker Albemarle &Bond Holdings said on Monday its lenders had pulled theplug on a turnaround plan, meaning shareholders were unlikely tosee any return on their investment.
The company, which offers loans against items like watchesand gold rings, said it was continuing to work with lenders onalternatives, including a sale of the business.
Lenders had given the group breathing space until the end ofMarch, and although it had sufficient cash for current trading,it had no prospect of paying its debts after that date, it said.
The shares, which have lost 97 percent of their value in thelast 12 months, closing at 6.65 pence on Friday, have beensuspended at the company's request.
(Reporting by Paul Sandle; editing by Kate Holton)