Connect with us

Headlines

Jewelry Dealer Looks to Buy 27-Store Pawnshop Chain

mm

Published

on

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.”

 

Advertisement

 

Advertisement

SPONSORED VIDEO

Wilkerson Testimonials | Sollberger’s

Going Out of Business Is an Emotional Journey. Wilkerson Is There to Make It Easier.

Jaki Cowan, the owner of Sollberger’s in Ridgeland, MS, decided the time was right to close up shop. The experience, she says, was like going into the great unknown. There were so many questions about the way to handle the store’s going-out-of-business sale. Luckily for Cowan, Wilkerson made the transition easier and managed everything, from marketing to markdowns.

“They think of everything that you don’t have the time to think of,” she says of the Wilkerson team that was assigned to manage the sale. And it was a total success, with financial goals met by Christmas with another sale month left to go.

Wilkerson even had a plan to manage things while Covid-19 restrictions were still in place. This included limiting the number of shoppers, masking and taking temperatures upon entrance. “We did everything we could to make the staff and public feel as safe as possible.”

Does she recommend Wilkerson to other retailers thinking of retiring, liquidating or selling excess merchandise? Absolutely. “If you are considering going out of business, it’s obviously an emotional journey. But truly rest assured that you’re in good hands with Wilkerson.”

Promoted Headlines

Most Popular