Cash Converters Expands UK Presence with Lloyds Bank Funding

Cash Converters International Limited ( (AU:CCV) ) has provided an announcement.

Cash Converters International Limited has secured a £12 million finance facility from Lloyds Bank to support its strategic objective of acquiring franchise stores. The company has agreed to acquire 10 franchise stores in the UK for approximately £7.5 million, marking the first purchase funded by the new facility. This acquisition will increase the number of corporate stores in the UK to 58, enhancing the company’s earnings and strengthening its market position in the UK and Europe.

More about Cash Converters International Limited

Cash Converters International Limited is a leading consumer lender and second-hand goods retailer operating globally, with key markets in Australia, New Zealand, and the United Kingdom. The company functions as a Master Franchisor and is focused on acquiring franchise stores. It is transforming its loan book towards longer-term, lower-cost lending solutions and expanding its retail presence in repurposed luxury goods, emphasizing sustainability and supporting the circular economy.

YTD Price Performance: 17.02%

Average Trading Volume: 535,496

Technical Sentiment Signal: Buy

Current Market Cap: A$172.6M

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