Travers Smith restructuring partner Andrew Eaton and private equity partner Paul Dolman have advised a Bidco funded by an international investor group led by Promethean Investments on the acquisition of Albemarle & Bond out of administration. As a result of the acquisition, the Bidco has acquired 128 of the 187 pawnbroker branches and 628 out of 809 jobs have been saved.

Albemarle & Bond entered administration on 25 March 2014 after lenders Barclays and Lloyds Banking Group said that they would not support the company's turnaround plan.

The Travers Smith team also included tax partner Simon Skinner, senior restructuring associate Douglas Hawthorn and senior corporate associate Will Yates.  The administrators, PwC, were advised by DLA Piper.