Over 1,000 Rent Way employees will
be affected by the acquisition of 295 stores by Rent a Center.
Concern among those employees is very high since
Rent Way and Rent a Center exist in many of the same markets.
RTO Online interviewed Mark Speese, CEO of Rent a Center,
concerning the effect of the acquisition on Rent Way
Mr. Speese stated that the transaction is not closed yet, and
no specific plans were in place. However, he did wish to
re-assure Rent Way employees that no blanket policy will be
"We all know that people are the key to success in this
business. Anyone who knows Rent a Center, knows that we have a
lot of existing stores right next to each other." "You can't
take two $50,000 stores, combine them, and six months later
expect to still have $100,000 in revenue."
Mr. Speese confirmed that he has produced a video that will
arrive at the affected locations tomorrow. The video will address
concerns and welcome the new employees.
Mr. Speese added, "This type of acquisition is very
consistent with our business model. In some cases, we'll be
expanding into new areas, in other cases the stores will exist
in the same market. "We don't look at it in terms of 'there
right next to each other, so there needs to be a change'. It's
rather the individual performance of those stores, and what
their potential is."
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