Aaron Rents, Inc. Completes Sale of Its Aaron's Corporate Furnishings Division to CORT Business Services Corporation
10 Novembre 2008 - 9:08PM
PR Newswire (US)
ATLANTA, Nov. 10 /PRNewswire-FirstCall/ -- Aaron Rents, Inc.
(NYSE:RNT), the nation's leader in the sales and lease ownership,
specialty retailing and rental of residential and office furniture,
consumer electronics and home appliances and accessories, today
announced it has completed the sale of substantially all of the
assets of its Aaron's Corporate Furnishings division to CORT
Business Services Corporation. The sale of the assets, which was
previously announced on September 12, 2008, was closed for cash
proceeds of approximately $76.4 million (which includes payment for
certain accounts receivable), subject to post-closing adjustments.
Aaron Rents, Inc., based in Atlanta, currently has more than 1,545
Company-operated and franchised stores in 48 states and Canada.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this news release regarding Aaron
Rents, Inc.'s business which are not historical facts are
"forward-looking statements" that involve risks and uncertainties
which could cause actual results to differ materially from those
contained in the forward-looking statements. These risks and
uncertainties include factors such as changes in general economic
conditions, competition, pricing, customer demand and other issues,
and the risks and uncertainties discussed under "Risk Factors" in
the Company's Annual Report on Form 10-K for the fiscal year ended
December 31, 2007. DATASOURCE: Aaron Rents, Inc. CONTACT: Gilbert
L. Danielson, Executive Vice President, Chief Financial Officer,
Aaron Rents, Inc., +1-404-231-0011 Web site:
http://www.aaronrents.com/
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