This
transaction is part of our previously announced store
consolidation plan
Mark E. Speese, Chairman and CEO, Rent- A-Center
Aaron Rents (RNT)
announced it has acquired in a cash transaction the rental
contracts and merchandise of 19 rental stores from Rent-A-Center
for $4.4 million.
"This acquisition will result in seven new Company-operated
and three new franchised Aaron's Sales & Lease Ownership stores
for us," said R. Charles Loudermilk, Sr., Chairman and Chief
Executive Officer of Aaron Rents. "In addition, the merging of
the other Rent-A-Center stores rental volume into our nearby
existing Aaron's locations will increase the profitability of
these stores."
"This transaction is part of our previously announced store
consolidation plan," commented Mark E. Speese, Chairman and
Chief Executive Officer of Rent- A-Center. "Of the 48 stores we
identified for sale, merger with a potential acquisition or
closure, we have now completed the sale of 35 of those stores."
RTO Online is the official channel for Rent-to-Own Industry News and the
only independent source of news for the rent-to-own, rental-purchase,
lease-purchase trade. RTO Online (Rent to Own Online) represents the choice
of the entire RTO Industry for trusted information, as it happens.
This
transaction is part of our previously announced store
consolidation plan