Suchart Chutipongsaposit, manager of the city run pawn shop, said the shop normally has about 100,000 baht in cash flow, but a combination of demand from the start of a new school year and the expiration of the political term for city officials has put a crimp on the store’s spending.
Customers visit Pattaya Pawn Shop only to learn it has temporarily run out of cash.
He said the pawn shop must wait for a 50 million baht loan after the new mayor and city council terms begin. Until then, he said, sellers will have to wait for their cash.
The pawn shop, Suchart said, currently has bought more items than it has sold. Because sellers generally take monthly installments, a lack of people owing money and interest on items bought can lead to cash-flow problems.
With pawn shop customers complaining, newly elected city officials likely will shake up the pawn shop to ensure better financial management in the future.
