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Rent Rite aquires two stores in Va.

By Furniture Today Staff -- Furniture Today, October 14, 2001

BOCA RATON, Fla. — Rent Rite has acquired its first two stores in Virginia, bringing the rent-to-own chain to 50 stores in eight states.

Rent Rite, based here, acquired the stores, in Manassas and Fredericksburg, from Premier Rentals - RTO Investments.

"The company plans to continue its expansion, opening or acquiring additional stores over the next 24 months, many of which will be in Virginia," said Tom Mitchell, Rent Rite's chief financial officer.

In addition to Virginia and Florida, the company has stores in Pennsylvania, Delaware, Maryland, Connecticut, Massachusetts and Rhode Island.

Founded in 1998 by Ed Stanko, its president and chief executive officer, and Chairman Karl Schledwitz of Southland Capital, Rent Rite offers furniture, computers and other home electronics, appliances and jewelry.

As first reported in eDaily

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