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Jewelry Dealer Looks to Buy 27-Store Pawnshop Chain

Published

7 years ago

July 11, 2017

INSTORE Staff

It signed a letter of intent.

DALLAS — DGSE Companies Inc. is looking to buy National Pawn Inc., a chain with 27 stores across Arizona, North Carolina, Oklahoma and Texas.

DGSE (NYSE MKT: DGSE) said in a press release that it has has entered into a non-binding letter of intent to acquire the equity interests in National Pawn and its affiliates.

If a definitive agreement is reached, the acquisition would be expected to close in the third quarter of 2017. Austin, TX-based National was founded in 1993 by its current CEO, Courtland (Corky) L. Logue Jr. Logue has a long history of founding and operating pawnshops, including EZPAWN and EZCORP (NASDAQ: EZPW).

DGSE is a wholesaler and retailer of jewelry, diamonds, fine watches and precious metal bullion and rare coin products.

“We continue to explore new opportunities and agreements with potential partners who are excited about being a part of DGSE’s future,” said John Loftus, DGSE’s president, chairman and CEO. “We believe this positions DGSE to generate an attractive, total shareholder return over the long term.”

This Third-Generation Jeweler Was Ready for Retirement. He Called Wilkerson

Retirement is never easy, especially when it means the end to a business that was founded in 1884. But for Laura and Sam Sipe, it was time to put their own needs first. They decided to close J.C. Sipe Jewelers, one of Indianapolis’ most trusted names in fine jewelry, and call Wilkerson. “Laura and I decided the conditions were right,” says Sam. Wilkerson handled every detail in their going-out-of-business sale, from marketing to manning the sales floor. “The main goal was to sell our existing inventory that’s all paid for and turn that into cash for our retirement,” says Sam. “It’s been very, very productive.” Would they recommend Wilkerson to other jewelers who want to enjoy their golden years? Absolutely! “Call Wilkerson,” says Laura. “They can help you achieve your goals so you’ll be able to move into retirement comfortably.”