Cash Store Financial facing more troubles in Ontario
Registrar wants to deny Edmonton-based company new licences
Michael Ganley is the editor of Alberta Venture. BizBeat takes a big-picture view of the provincial, national and international news affecting Alberta's business community. He can be reached at firstname.lastname@example.org and @MikeatVenture
by Michael Ganley
The next chapter in the ongoing saga of Edmonton-based Cash Store Financial has been written, and it doesn’t turn out well for the payday lender. Ontario’s Registrar of Payday Loans says it wants to deny new licences to Cash Store (TSX:CSF) based on past conduct. Cash Store has requested a hearing before the province’s licence appeal tribunal.
Alberta Venture’s senior editor, Tim Querengesser, thoroughly dissected Cash Store’s business model – and the troubles it’s been facing across the country – last June.