WJB Faced 25% Interest on Debt Ahead of Brokerage Shutdown

WJB Capital Group Inc. shut its brokerage operations after a year in which the Wall Street firm faced slower trading, a shortage of capital and interest rates of 25 percent on some debts.

The company, which told its 100 employees about the closing yesterday, had $8.17 million of subordinated debt, including $1.35 million due last month, according to a 2010 annual report with the U.S. Securities and Exchange Commission. New York-based WJB Capital also owed $3.5 million it borrowed from executives at interest rates of 10 percent to 15 percent, the filing shows.