Cash Generator Looks to London

MANCHESTER - National retailer Cash Generator continues its rapid expansion with plans to open 30 new stores in London over the next three years, signalling an investment of GBP6 million into the UK economy.

As London jobs continue to take a hammering, Cash Generator aims to create more than 200 new positions across the capital.

The 90+ strong chain has more recently opened its first London store in Willesden, and the company will ambitiously roll out its proven buy, sell and loan business model, which has gained greater momentum in the downturn by cash-conscious consumers.

With its most popular service being the buying and selling of pre-owned items, the stores also provide many other additional financial services which create a multi-income stream business model that is enjoying buoyant trading.

From 1 February 2009 to 30 April 2009 the group can report that the buying of pre-owned items from the public has increased by 19.1% and gross profits have increased by 13.8%.

Julian Urry, managing director at Cash Generator, says: “There are a number of factors leading to our continued growth in profits, one of the main being our greater presence and the dramatic change in consumer habits on the high street.

“The UK is now a nation of cash-wise consumers, searching for good value for money and our stores offer just that, along with competitive financial services, and instant cash for those that need it most during these difficult times.

“London is a major part of our expansion plans. We have identified a number of locations within the M25 corridor and having already opened stores in Essex and, more recently North West London, we are odds-on to achieve our goal,” concludes Julian.

Cash Generator has welcomed in recent years and months a vast array of people from all backgrounds, such as professionals and also entrepreneurs looking to develop their own multi site operations, including ex-city trader Lee Warren from Essex.

Putting a pressured career in the city on hold, Lee escaped being a victim of the credit crunch to open his first Cash Generator franchise in Grays in 2006. Six months ago he opened his second store in Basildon.

Not content with two, entrepreneur Lee and his brother Paul plan to open a further five or six stores in the Essex/London region in the near future, further expanding their portfolio of stores.

Gemma Fitzmaurice at Mere PR +44-(0)161-929-8700) Email: gemma@mere.co.uk

Source: Cash Generator

Gemma Fitzmaurice at Mere PR, +44-(0)161-929-8700), Email: gemma at mere.co.uk