Ramsdens announces acquisition of The Money Shop stores
Pawnbroking specialists Ramsdens have announced the acquisition of 18 stores currently trading as The Money Shop.
As part of the deal, 18 The Money Shop stores will be rebranded and an additional five others will close, with Ramsdens taking on pawnbroking loan books from all stores.
The affected stores are located primarily in the North West of England and Scotland, and as part of the acquisition Ramsdens will be taking on approximately 70 new staff.
Ramsdens hope that by acquiring The Money Shop it can strengthen its own foreign currency proposition, as well as introducing jewellery services into the newly acquired stores to diversify the range of services offered.
Peter Kenyon, CEO of Ramsdens, commented: “We are delighted to announce this value-enhancing acquisition and welcome our new colleagues and customers to Ramsdens.
“We are confident that this acquisition will deliver value for the Group’s shareholders as well as the local communities where they operate.”
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