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DGSE in Talks to Buy National Pawn

Jul 11, 2017 5:49 AM   By Rapaport News
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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
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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