Cash Generator’s capital move

RETAILER Cash Generator has announced plans to open 30 new stores in London over the next three years.

The Bolton-based company, which buys and sells pre-owned items, is aiming to create more than 200 jobs across the capital and implement its buy, sell and loan business model, which has gained greater momentum in the downturn.

Sales of pre-owned items increased by 19.1% and profits increased by 13.8% for the three months to the end of April 2009.

Julian Urry, managing director at Cash Generator, said: “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.”

The firm recently opened its first London store in Willesden and aims to open its 100th store later this year.