Rentcash Inc. announces 200th store opening

Monday 24 January 2005 16:31 CET | News

Rentcash Inc. has opened its 200th store nationwide and its first Cash Store payday loan brokerage outlet in Toronto, reaching a milestone in its corporate development.

Rentcash achieved the 200-store mark nearly four years after its first outlet opened in Edmonton in April 2001. New Cash Stores will also open today in Newmarket and Kingston, ON, Yorkton and Regina, SK, and Victoria, BC. This 200-store milestone marks Rentcashs entry into the competitive Toronto arena and demonstrates our rapid growth as a national chain, noted Gordon J. Reykdal, President and CEO. Ontario has been one of our most important markets, with 75 stores now open. We have selected this moment to begin operations in the countrys largest market as we have perfected our concept in the nine provinces and one territory in which we have stores. It is a very important day for Rentcash Inc. Located at 521 Yonge St., the new store will be managed by Tracy Simpson, who previously operated the companys Oshawa, ON, Cash Store. Reykdal said that in its Cash Store division, Rentcashs mission is to be a neighbourhood financial resource and bring new monetary services to customers who have been abandoned by conventional financial institutions. We pride ourselves in creating an open, welcoming atmosphere and total dedication to the best customer service in the industry, Reykdal added. Recently, Rentcash added Western Union money transfer and money order services to its Cash Store product mix. In The Cash Store, consumers seeking short-term payday advances of $100 to $500 now have a place to access these funds quickly and efficiently, Reykdal said. We also cash cheques and provide our private label debit card, the Cash Store Cash Card(TM) for those who may not be able to obtain them from banks. In addition to the Cash Stores, Rentcash also operates the Insta-rent division, which rents brand name furniture, appliances, electronics and computers, with or without an option to purchase. Insta-rent stores are primarily located inside The Brick and United Furniture Warehouse retail outlets. Of the 200 Rentcash outlets nationwide, there are 144 Cash Stores and 56 Insta-rent stores in nine provinces and the Northwest Territories. Rentcashs on-going expansion plans include new store openings of 5-6 Cash Store outlets per month, in addition to its previously announced plans of 4-5 Insta-rent outlets per month within The Brick and United Furniture Warehouse national furniture chains. The Company currently employs more than 700 people and has it head office in Edmonton.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce