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DGSE in Talks to Buy National Pawn
Jul 11, 2017 5:49 AM
By Rapaport News
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RAPAPORT... DGSE Companies has expressed its interest in acquiring National Pawn, a 27-store pawnshop chain based in Austin, Texas.
DGSE, a jewelry wholesaler and retailer headquartered in
Dallas, entered a “non-binding letter of intent” to buy National Pawn and
its affiliates, the company said last
week. The companies have not reached an agreement and a deal might not happen,
DGSE pointed out.
DGSE, founded in 1965, operates in more than 10 locations
across three states, according to its website. When CEO John Loftus took over
the role last December, he said the pawnbroker may consider acquisitions to
“regain profitability and competitiveness.”
“We continue to explore new opportunities and agreements
with potential partners who are excited about being a part of DGSE’s future,”
Loftus said in last week’s update.
Separately, DGSE expects to sell its wholesale division,
Fairchild International, and its associated website, www.fairchildwatches.com,
in the “near term,” the company said. The firm is planning to streamline its
operations by focusing on its fine-watch marketing division and the retail
sector.
Image: Gerry Dincher
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Tags:
austin, dallas, DGSE, DGSE Companies, Fairchild International, Jewelry, John Loftus, National Pawn, pawnbrokers, pawnshops, Rapaport News, retail, secondhand jewelry, texas, wholesale
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