Weeks after settling litigation related to a purchase deal, Rent-A-Center has entered into a definitive agreement to acquire substantially all of the assets of C/C Financial Corp., which does business as Merchants Preferred, a nationwide provider of virtual rent-to-own services.
Rent-A-Center has agreed in principle to settle all litigation with Vintage Capital Management, and B. Riley Financial relating to the company’s termination of an agreement and plan of merger last year with certain affiliates of Vintage Capital.
Rent-A-Center said that the company has terminated a previously announced merger agreement plan with certain affiliates of Vintage Capital Management, LLC.
For the third quarter ended September 30, when the company’s Progressive business boosted revenues, Aaron’s posted net earnings of $43.7 million, or 62 cents per diluted share, versus $25.3 million, or 35 cents per diluted share, in the year-earlier period.
In a special meeting on September 18, Rent-A-Center shareholders approved a merger deal with Vintage Rodeo, an affiliate of Vintage Capital Management, according to a filing with the United States Securities and Exchange Commission.
Overstock.com has launched an integrated lease-to-own purchase option through Progressive Leasing.
The Dallas Market Center has appointed Joan Ulrich to the position of evp/leasing, responsible for leasing strategy across the gift, home, lighting, holiday, floral, and design neighborhoods of the marketplace.
For the fourth quarter, and as it put in place a new strategic plan, Rent-A-Center posted net earnings and diluted earnings per share of $34.8 million and 65 cents versus a net loss and diluted loss per share of $146.4 million and $2.76 in the year-earlier period.
FlexShopper, a national online lease-to-own retailer and LTO payment solution provider, has announced record year-over-year lease origination growth in December 2017, with gross lease originations increasing 27.5% to 25,140 from the month last year.
Aaron’s reported a positive second quarter with a rise in overall revenues following its acquisition of SEI, the company’s largest franchisee.
Rent-A-Center has appointed Mark Speese to the CEO role and launched a new strategic plan developed to restore growth, improve profitability and maximize value by strengthening the core business in the United States while growing its AcceptanceNow business and leveraging technology investments.