Rent-A-Center sells 14 Canadian stores

Plano, Texas - Rent-A-Center Inc. has sold 14 rent-to-own stores located in Alberta and Ontario, Canada to Canadian merchandise leasing company Easyhome Ltd. The transaction included Rent-a-Center concurrently purchasing three Easyhome rent-to-own stores located in Florida, Missouri and New York.



“Our multi-year plan to improve the profitability and performance of our core U.S. segment continues to gain traction and deliver results,” said Robert D. Davis, CEO of Rent-A-Center. “The sale of these stores allows us to place even greater emphasis on executing these initiatives,"



In the third quarter 2015, Rent-A-Center will record a Canadian store sale-related pre-tax restructuring charge of approximately $1 million. This sum is expected to include costs related to accelerated depreciation expense for fixed assets, leasehold improvements and write-off of merchandise inventory, early lease termination costs and other operating costs to decommission the stores.