Command Center Sells California Locations
COMMAND CENTER (CCNI)
NASDAQ:AMEX Investor Relations:
irdirect.net/ccni
Company Research
Source: Business Wire
Part of Strategic Decision to Exit California Marketplace DENVER--(BUSINESS WIRE)--Command Center, Inc. (Nasdaq: CCNI), a national provider of on-demand and temporary staffing solutions, today announced that it has agreed to sell its four California locations to Resolute Enterprises, LLC for $1.8 million. Command Center is providing seller financing for the transaction, receiving a four-year promissory note at 10% interest.“After careful review, we determined that California has a number of regulations unique to the state, and complying with these requirements would require significant and ongoing resources which do not make sense at our current size,” commented Rick Hermanns, Command Center’s President and Chief Executive Officer. “At our current scale, we believe there are better investment opportunities elsewhere. Our focus remains to convert the remaining branches to the franchise model. We continue to expect to convert the remaining branches to the franchise model by the end o
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