FIRST CASH ANNOUNCES THE ADDITION OF FOUR PAWN SHOPS
FIRST CASH ANNOUNCES THE ADDITION OF FOUR PAWN SHOPS FORT WORTH, Texas, Feb. 6 /PRNewswire/ -- Rick Powell, president of
First Cash, Inc. (NASDAQ: PAWN) today announced the company's acquisition of three pawn shops in the Dallas/Fort Worth mid-cities with aggregate outstanding pawn loans in excess of $580,000 as of Jan. 31, 1992. The three pawn shops were acquired for a combination of cash and restricted stock with an aggregate purchase price in excess of $2.5 million. In addition to these acquisitions First Cash announces the opening of a new store in Bedford, Texas.
Powell stated, "We are very excited about these acquisitions and believe that pawn shops of this size add significant value to the company." With these four new stores First Cash now has 16 pawn shops with $1.7 million outstanding in pawn loans. The company went public in April 1991 with six stores with aggregate outstanding pawn loans of approximately $400,000. This represents a 167 percent increase in the number of stores and a 325 percent increase in outstanding pawn loans since the company went public. -0- 2/6/92 /CONTACT: Rick Powell, president of First Cash, 817-633-7296/ (PAWN) CO: First Cash, Inc. ST: Texas IN: REA SU: SH -- NY085 -- 7827 02/06/92 14:55 EST
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|Date:||Feb 6, 1992|
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