Mishcon de Reya advises on sale of Suttons & Robertsons - the oldest pawn broking business in London

Mishcon de Reya has acted on the sale of the United Kingdom's fourth-largest pawnbroking business, Suttons & Robertsons, to leading US financial services company, Dollar Financial Corp for a consideration of up to £17.5m.

Two of the business' stores were founded in the 1700’s and are reputed to be the oldest pawn broking stores in London. They primarily deal in high value items, regularly lending over £100,000 on gold jewellery, fine watches and diamonds, and have even housed a Picasso painting. The company was also selected by Buckingham Palace to value the Queen's silver collection for insurance purposes.

Corporate Partner, Dean Poster, who recently joined the Firm from Orrick Herrington & Sutcliffe led the Mishcon de Reya team. He commented: “This deal reflects the willingness in this market of major financial institutions to invest in areas that are flourishing due to the current economic difficulties”.

Phil Baigent of Freeth Cartwright in Nottingham advised the buyer.