Business Services Industry
Erie, Pa.-Based Rent-Way Looks to Brighter Future.
Knight Ridder/Tribune Business News, March, 2004
By Peter Panepento, Erie Times-News, Pa. Knight Ridder/Tribune Business News
Mar. 11--For the first time in more than three years, Rent-Way Inc. is planning to open new stores.
William Morgenstern, Rent-Way's chief executive, said Wednesday the company will likely announce a plan to open new stores sometime during the next 30 days.
The announcement marks an important milestone for the once-troubled Erie-based rent-to-own company as it attempts to gain back the market share it lost during a three-year investigation into accounting improprieties by some of its former executives.
Rent-Way operates 753 rent-to-own stores in 33 states -- down from more than 1,100 stores in late 2000, when it disclosed that some of the company's...
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