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For richer, for poorer, Utah pawn and businesses that are payday
Downturn draws all earnings levels to Utah shops, amid more ownership that is corporate.
By Dawn Home The Salt Lake Tribune
That is an archived article that had been posted on sltrib.com last year, and information when you look at the article might be outdated. It really is supplied just for individual research purposes and could never be reprinted.
Cash-strapped customers hocking individual products at pawn stores or acquiring loans at payday financing shops are making for the business that is booming.
Just this thirty days, one of many bigger pawn operators on the planet bought for $11.8 million seven Utah shops which had operated underneath the Jumping Jack Cash that is colorado-based brand name. a company that is third money America В— the biggest U.S. pawnshop operator В— additionally controls seven other Utah stores.
Even though the greater part of pawnshops are individually owned, big corporations are making inroads. And whether that is a a valuable thing for Utah shops and their clients is dependent upon that is doing the chatting.
Due to their component, representatives of Ezcorp are not saying much publicly about its expanding impact across the Wasatch Front and southern Utah, that also includes 17 loan that is payday. Ezcorp, situated in Austin, Texas, operates a lot more than 500 pawn shops within the U.S. and Mexico and 500 cash advance stores when you look at the U.S. and Canada.
Eric Fosse, president associated with the Ezcorp’s us Operations, would not get back calls for remark, and a few business professionals and shop managers referred inquiries to other people within the company. A representative did respond but known news releases in reply to concerns. Read more
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