Printer Friendly

CHECK EXPRESS CONCLUDES SALE OF WASHINGTON OPERATIONS

 CHECK EXPRESS CONCLUDES SALE OF WASHINGTON OPERATIONS
 TAMPA, Fla., July 2 /PRNewswire/ -- Check Express, Inc. (NASDAQ: CHXS), owner, operator and franchisor of retail check cashing centers, today announced that it has completed the transaction with Peter F. Borer, former chairman of the board and president, pursuant to which Borer has acquired the company's operations in the state of Washington, including four store locations, cash and other operating assets, in exchange for 985,000 shares of common stock in the company.
 Borer will continue to operate the Washington locations as Check Express franchised stores. The transaction is intended to qualify as a tax-free transaction under Section 355 of the Internal Revenue Code.
 Borer has resigned his positions with the company and Larry F. Lang, CEO, director and a founder of the company, has been named president and chairman of the board.
 Check Express currently operates 55 company and franchised retail money centers in 12 states which provide check cashing, money orders, money transfers and related services.
 -0- 7/2/92
 /CONTACT: Larry Lang of Check Express, 813-289-2888/
 (CHXS) CO: Check Express, Inc. ST: Florida, Washington IN: REA SU: PER TNM


EA-BN -- AT009 -- 6140 07/02/92 11:39 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 2, 1992
Words:198
Previous Article:BARNETT CUTS PRIME RATE TO 6 PERCENT
Next Article:MICHIGAN $435 MILLION TRANSPORTATION BONDS RATED 'AA-' BY FITCH -- FITCH FINANCIAL WIRE --
Topics:


Related Articles
CHECK EXPRESS REACHES AGREEMENT IN PRINCIPLE
CHECK EXPRESS ANNOUNCES THIRD QUARTER RESULTS
CHECK EXPRESS FRANCHISE SALES TOP 100
CHECK EXPRESS ACQUIRES STORES
CHECK EXPRESS ACQUIRES WASHINGTON STORES
CHECK EXPRESS ACQUIRES AND SELLS STORES
CHECK EXPRESS REACHES FRANCHISE AGREEMENT WITH CONVENIENT FOOD MART
CHECK EXPRESS INC. ANNOUNCES THE SIGNING OF A LETTER OF INTENT WITH ACE CASH EXPRESS, INC.
ACE CASH EXPRESS, INC. ANNOUNCES COMPLETION OF MERGER WITH CHECK EXPRESS, INC.
EXXON/CHECK EXPRESS AGREE TO TEST-MARKET MONEY CENTER

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters