Cort buys unit from Aaron's
Article Abstract:
Aaron Rents, a furniture rental company in Atlanta, GA, has sold its operation in trade show furnishings to Fairfax, VA-based Cort Business Services for an undisclosed amount. The unit, a competitor of Cort's Trade Show Furnishings division, has been considered by Aaron Rents as unprofitable despite sales of $6 million in 1998. The sale will result in a minimal loss for Aaron Rents but will enable the company to concentrate on its rent-to-rent and rent-to-own businesses while Cort will benefit from the deal through the expansion of its chain of 116 leasing outlets and 79 clearance centers.
Comment:
Acquires operation of Aaron Rents in trade show furnishings for undisclosed amount
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Rent-Way, Home Choice close to sealing merger
Article Abstract:
Rent-Way and Home Choice Holdings, two major rent-to-own furniture companies, are nearing the final stages of their pooling-of-interests merger as both agreed to simultaneously hold their respective shareholders meeting on Dec. 10, 1998. Under the terms of the transaction, Rent-Way will give a total of 9.99 million of its shares to Home Choice shareholders. The agreement will make Rent-Way the second-biggest rent-to-own company, with 859 stores in 32 states and the District of Columbia and annual revenues of about $435 million.
Comment:
Nears last stages of merger w/ Home Choice Holdings as both agree to simultaneously hold their shareholders meetings on 12/1/98
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Cort Business Services to acquire Michigan chain
Article Abstract:
Cort Business Services has signed a letter of intent to purchase Instant Interiors, a 10-store operation based in Kalamazoo, MI, for an unknown amount under a deal it expects to close in August 1998. Cort will add the business to its rent-to-rent leading operation, Cort Furniture Rental, adding that Instant generates some $12.5 million in yearly revenue from its showrooms in Illinois, Michigan, Ohio and Indiana. Also, the firm's senior management group will be joined by Instant co-founders Bill Swets and Bob Baker.
Comment:
Signed a letter of intent to purchase Instant Interiors, a 10-store operation based in Kalamazoo, MI, for an unknown amount
Publication Name: Furniture-Today
Subject: Home furnishings industry
ISSN: 0194-360X
Year: 1998
User Contributions:
Comment about this article or add new information about this topic: