Nicholas Financial

Nicholas Financial
Company typePublic company
Nasdaq: NICK
Russell Microcap Index component
IndustryFinancial services
Founded1986; 39 years ago (1986)
FounderPeter Vosotas
Headquarters
Clearwater, Florida
,
United States
Number of locations
60 branches (2012)
Area served
South Eastern United States
ProductsLoans and car finance
Websitewww.nicholasfinancial.com

Nicholas Financial is an American consumer and auto loan company based in Clearwater, Florida. As of 2012, it had 60 branch offices in Florida, Ohio, North Carolina, Georgia, Alabama, Kentucky, Indiana, Tennessee, Michigan, Missouri, South Carolina, Virginia, Maryland and Illinois. Peter Vosotas was the company's founder and chief executive.[1]

History

The company was founded in 1986 by Peter Vosotas. The company went public in 1987 and was listed on the NASDAQ under the symbol, NICK.[2]

In December 2013, Prospect Capital Corporation declared it would acquire 100% of the common stock of Nicholas Financial Inc., which failed to close in April 2014.[3]

CEO Ralph Finkerbrink, retired in September 2017 after 25+ years of service to the company. Doug Marahon took over as CEO in December 2017.

In April 2020, in the wake of the financial burden of the emerging COVID-19 pandemic the company went into furlough. In a Form 8-K with the U.S. Nicholas Financial Inc., reported that it would immediately furlough 40 employees, or around 15% of its staff. The consumer finance firm also confirmed that it would shutter seven of its branches.[4]

References

  1. ^ NICK Profile, Yahoo Finance
  2. ^ "About Nicholas - company profile". Nicholas Financial. Retrieved September 7, 2024.
  3. ^ "Prospect Capital Corporation Agrees to Acquire Nicholas Financial, Inc. in a $340 Million Transaction Pro Forma Earnings Accretive to Prospect". finance.yahoo.com.
  4. ^ Torrance, Luke (16 April 2020). "Nicholas Financial in Clearwater to furlough 15 percent of workforce". Tampa Bay Business Journal. Retrieved 6 May 2020.
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