Cash Converters

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Cash Converters International Limited
Type Public
Industry Retail
Founded 1984 in Perth, Western Australia
Website www.CashConverters.com

Cash Converters International Limited is a worldwide pawnbroking franchise company, as well as a retail store. They also offer small financial loans.[1]

Australia[edit]

Cash Converters International (CCV) is a franchised retail network listed on the ASX and London Stock Exchange.

Cash Converters stores around the world offer pawnbroking loans available in selected markets, as well as a personal finance business that operates, in various forms in the micro-lending category around the world.

This company began in Perth, Western Australia, in 1984. It was founded by Brian Cumins and a group of partners. In four years, the partners were operating seven outlets in the Perth area.

Services[edit]

Most Cash Converters stores offer a number of services in the retail, pawnbroking and personal finance sectors.

South Australia store closures[edit]

A major franchisee of Cash Converters who owns a number of stores across Victoria and South Australia, including the Melbourne CBD store, has recently announced that they will be closing all of their South Australian stores, and will be focusing on their Victorian businesses including opening a spate of new stores across the Melbourne Metro area. The exact date of the closures is unknown, and will differ from store to store. The closures will not affect Cash Converters corporate owned stores, and stores owned by other franchisers.

International[edit]

Cash Converters International (CCV) is a franchised retail network listed on the ASX and London Stock Exchange. Cash Converters trades in 16 countries throughout the World.

Cash Converters began trading in the United Kingdom in 1992, New Zealand (1993), South Africa (1994), France (1994), Canada (1995), Spain (1995) and the United States (1994).

A number of countries, including Australia and the United Kingdom, operate online retail channels with stock being sold and/or auctioned. Listed stock carries warranties.

Cash Converters UK were the first to hold an online charity auction for the charity Dreams Come True.

Cash Converters charge a current rate of interest of 33% (35% in Victoria, Australia) per month, making their annual interest over 350% on the principal loan.

Cash Converters UK charge a flat fee of 32.5% on their Buybacks with an option to pay an extension fee after 28 days.

Ownership[edit]

Cash Converters is a publicly listed company trading on the Australian stock exchange (CCV).

In November 2009, EZCorp purchased a 30% stake in Cash Converters. It now has two people on the board of the company.[2]

References[edit]

  1. ^ André Sammartino (2007), 'Retail', in Dick, H. & Merrett, D. (eds.), The Internationalisation Strategies of Small-Country Firms: The Australian Experience of Globalisation, Edward Elgar: Cheltenham, UK, pp.175-194.
  2. ^ http://www.cashconverters.com/default.aspx?MenuID=19

External links[edit]