Cash Converters franchise is quids in with status change
A West Midlands-based Cash Converters franchise business is preparing to open its seventh store after converting to a limited company. Touchdown Associates, which will open up a store in Acocks Green next month, has been incorporated from a partnership base to provide “a solid foundation for expanding the business”.
The new store in Acocks Green will be the 174th Cash Converters store in the UK. The retailer supplies pre-owned goods and support through financial services.
Dudley-based corporate law firm Hawkins Hatton acted for directors John and Olwyn Walker and Jason Amos, carrying out the transfer of all 62 staff into the new limited company structure.
John Walker has operated a Cash Converters franchise for the last 19 years. Over that time period, the business has steadily expanded into Coventry, Northfield, Redditch, Erdington, West Bromwich and Kings Heath.
Walker said: “We’ve seen a marked upturn in demand since the credit crunch and are now attracting a wider profile of customers including those from the leafy suburbs who had their lives impacted upon by the tough economic conditions.”
Colin Rodrigues, corporate partner at Hawkins Hatton, said: “The incorporation into a limited company will allow the business to grow from a more stable footing and makes it far easier for the directors to attract senior staff and look at succession planning.”
