Cashies expands across Australia after franchise stores acquisition

Cash Converters International boss Sam Budiselik says the company’s plan to expand within Australia’s most populated areas on the east coast is working.

It comes as the lender and second-hand retailer recently acquired 14 franchise stores, between May and August, for a total of $15.89 million

This means Perth-based Cashies now has 92 corporate and 61 franchise-based stores across Australia.

“Following the recent announcement of Lloyds Bank funding the successful acquisition of 10 franchise stores in the UK, we are excited to announce these franchise store acquisitions in Australia,” Mr Budiselik said.

“These stores complement the existing corporate store network in Queensland and New South Wales, creating a strategic network corridor spanning Australia’s most populated areas, that will continue to grow in number over time.”

Cashies last traded at 35 cents, up 6 per cent, as of 11.28am AWST.