"This 200-store milestone marks Rentcash's
entry into the competitive Toronto arena and demonstrates our
rapid growth as a national chain"
Gordon J. Reykdal, President and CEO
Rentcash Inc. (TSXV: RCS) announced today that
it has opened its 200th store and its first Cash Store payday loan
brokerage outlet in Toronto, reaching a milestone in its corporate
development. Rentcash achieved the 200-store mark nearly four years after its
first outlet opened in Edmonton in April 2001. New Cash Stores will also open
today in Newmarket and Kingston, ON, Yorkton and Regina, SK, and Victoria, BC.
"This 200-store milestone marks Rentcash's entry into the competitive
Toronto arena and demonstrates our rapid growth as a national chain," noted
Gordon J. Reykdal, President and CEO. "Ontario has been one of our most
important markets, with 75 stores now open. We have selected this moment to
begin operations in the country's largest market as we have perfected our
concept in the nine provinces and one territory in which we have stores. It is
a very important day for Rentcash Inc."
Located at 521 Yonge St., the new store will be managed by Tracy Simpson,
who previously operated the company's Oshawa, ON, Cash Store.
Reykdal said that in its Cash Store division, Rentcash's mission is to be
a neighbourhood financial resource and bring new monetary services to
customers who have been abandoned by conventional financial institutions. "We
pride ourselves in creating an open, welcoming atmosphere and total dedication
to the best customer service in the industry," Reykdal added. Recently,
Rentcash added Western Union money transfer and money order services to its
Cash Store product mix. "In The Cash Store, consumers seeking short-term
payday advances of $100 to $500 now have a place to access these funds quickly
and efficiently," Reykdal said. "We also cash cheques and provide our private
label debit card, the Cash Store Cash Card(TM) for those who may not be able
to obtain them from banks."
In addition to the Cash Stores, Rentcash also operates the Insta-rent
division, which rents furniture, appliances, electronics and
computers. Insta-rent stores are primarily located inside The Brick and United
Furniture Warehouse retail outlets.
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