Steve Scoggins, Check Into Cash president, announced today the company had acquired the United Kingdom-based Cash and Cheque Express.
The upscale U.K. chain of 16 stores offers a wide array of financial services and products, including new and secondhand inventory that includes televisions, computers and cellular phones.
“Cash and Cheque Express has a rock-solid reputation in the communities they serve,” Scoggins said. “Much like Check Into Cash, Cash and Cheque Express has great potential for continued growth. We are very excited about this expansion opportunity.”
Scoggins said Check Into Cash made the overseas acquisition in part due to uncertainty in America in the regulation of consumer finance, health care and likely changes in the tax code.
“Check Into Cash is one of America’s great success stories and our desire is to continue expanding stateside and providing more jobs for good Americans,” Scoggins said. “However, as we evaluated opportunities in the global market and the favorable regulatory environment and business climate in the U.K., coupled with a strong demand for our services, the most prudent investment was overseas. Unfortunately, this means less jobs here and more jobs in the U.K.”
Scoggins added a best-case scenario is for Check Into Cash to continue expanding both in America and overseas.
“The global demand for our type of services continues to grow across many nations,” he said.
Founded by businessman Jones in Cleveland in 1993, Check Into Cash operates more than 1,000 branch locations in 30 states.
Check Into Cash is a founding member of the Community Financial Services Association of America trade organization and is a leader in industry best practices.
Check Into Cash offers a full suite of financial service products including installment loans, title secured loans, short-term microlending, Western Union money orders and wire transfers, check cashing and bill payment in select locations.
Visit www.checkintocash.com for more information about the company.