Thorn shifts focus to Radio Rentals

Radio rentalsThe owner of Radio Rentals has sold its receivables management business in a bid to focus on the appliance chain and other primary finance business.

The proceeds from the sale of the NCML receivables management business to Credit Corp Group for approximately $22.6 million will be reinvested in the two businesses which deliver higher returns on capital.

Thorn said the sale provides a good outcome for NCML employees who transfer to Credit Corp.

Earlier this year, Thorn lifted its annual profit 8.7 per cent to $30.6 million, with Radio Rentals the biggest contributor.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.


Comment Manually