An internationally known pawnshop is expanding to two Downriver locations.
In addition to its flagship location in Detroit and existing stores in Hazel Park and Pontiac, American Jewelry & Loan is opening stores in Lincoln Park and Southgate.
The stores’ owners, Seth and Les Gold, of television show “Hardcore Pawn” fame, explained that they see both short-term and long-term opportunities by expanding Downriver.
“During this time of economic crisis, more and more of our neighbors find themselves without access to a bank account,” Les Gold said. “The pawnshop can help them with cash, at low interest rates, close to home, when they need it the most.”
In the early days of the COVID-19 pandemic after the statewide shutdown, AJ&L was considered an essential business and continued operations, serving as an option for those suddenly unemployed and in need of financial resources.
The first Downriver location has opened in the 9,000-square-foot space at 1456 Fort St., Lincoln Park, formerly occupied for 20 years by Downriver Pawn Brokers.
Later this month, the company will open a store in a renovated 4,000-square-foot space at 14336 Eureka Road, Southgate, in the former location of Payless Shoes.
According to the company, the two Downriver locations will lead to the addition of 15 new jobs to the company’s payroll.
“We are being welcomed Downriver by elected officials and also local businesses,” Seth Gold said. “We look forward to offering closer service to many of our longtime customers, as well as introducing new customers to a new pawnshop experience.”
American Jewelry & Loan has operated in the Detroit area since 1978 and achieved international fame as the centerpiece of the popular television program “Hardcore Pawn,” which aired for nine seasons in the United States on TruTV and continues to draw audiences around the world.
The company’s last expansion, with a relocated store in Pontiac and new store in Hazel Park, took place in 2016.
To learn more about American Jewelry and Loan, visit PawnDetroit.com.
