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17/10/2008 - MONEY SHOP ACQUIRES LONDON STORES BOOSTING HIGH STREET PRESENCE TO 250 STORES
The Money Shop, the UK's number one instant cash provider, has acquired five stores in London including its first ever 24-hour store, taking the number of high-street locations to 250 nationwide.
In addition to the Marble Arch store which is located at the west end of Oxford Street, the Money Shop will take four fully-branded franchise stores across London in Acton, Whitechapel, Barking and Harrow. As the Money Shop's first 24 hour store, the Marble Arch store will offer all it's financial services 7 days a week.
The Money Shop, part of publicly listed American company, Dollar Financial, has been established on the UK high street for 16 years. The acquisition also further expands the Money Shop's UK pawn broking business, positioning it as the third largest lender in the pawn market.
The new stores take the number within the M25 boundary to 65 with the Marble Arch store the third in Central London.
The five new stores will offer the full range of Money Shop consumer financial products and services including cheque cashing, short term loans such as ‘Cash ‘til Payday', foreign exchange, Western Union money order and money transfer products and other ancillary products and services.
Jeff Weiss, Chairman and Chief Executive Officer of Dollar Financial Corp, said: "We're immensely proud to have reached the significant milestone of 250 stores across the country as we continue with the ongoing roll-out of our global expansion.
"Further strengthening our store presence in London, the new acquisitions will also help to build consumer awareness of the Money Shop brand. The Money Shop continues to deliver outstanding results underpinning our strategy of being the most diversified company in our sector."
The Money Shop opened its first store in Nottingham in 1996 and now employs over 1,000 people across its network, serving over 400,000 customers a year often in communities which have been vacated by traditional banks and post offices.
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| At the Money Shop we believe that you should get your hands on cash when you need it. So why wait? We offer a fast, friendly and confidential service with the best deals around. For instant cash, come to the leading cheque cashing company in the UK. We are the UK's No.1 for Cheque Cashing, Payday Loans (Cash 'til Payday) and Cash Loans. We have over 450 Stores across the UK. Call in today! |
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