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MAJOR ACQUISITION FOR THE MONEY SHOP BOOSTS UK PAWNBROKING OFFERING
The Money Shop, the UK's number one instant cash provider, has acquired Suttons & Robertsons (S&R), the fourth largest pawn broking business in the UK.
The Money Shop, part of publicly listed American company, Dollar Financial, has been established on the UK high street for 14 years and has over 300 stores in the UK. It is a member of the National Pawnbrokers Association (NPA) and has the largest network of high street pawn broking stores in the UK. The deal further expands the Money Shop's UK pawn broking business.
The Money Shop has acquired S & R's three London branches in Victoria Street, Edgware Road and Old Brompton Road. Victoria Street and Edgeware Road were founded in 1770 and 1797 respectively and are reputed to be the oldest pawn broking stores in London with Victoria thought to be the oldest establishment in the UK. These stores operate using their historical trade names of ‘TM Sutton' and ‘Robertsons'. The Brompton Road branch, operating under the name of ‘Sutton & Robertsons' was established in August 2009. The three stores deal primarily in pawn lending on high value gold jewellery, fine watches and diamonds including items valued in excess of £10,000 per pledge.
Jeff Weiss, the Company's Chairman and Chief Executive Officer stated: "This latest acquisition provides us with long-standing brands, proven expertise, and another business model to further diversify and expand our multi-country, multi-product and multi-platform company into the high end pawn broking market, which has very little competition in the UK.
"We are very pleased to welcome into the Dollar family the senior management team of T.M. Sutton and Robertsons, whose combined 80 years of pawn broking experience was instrumental in their selection by Buckingham Palace to value the Queen's silver collection for insurance purposes. We expect to leverage this solid expertise against our existing store-based international pawn operations, as well as to further grow and expand this well-recognised brand and provider of high end pawn lending services in the UK and other countries around the world."
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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