New Location Represents Targeted Expansion in Key Growth Market WARREN, Mich., Nov. 30 /PRNewswire-FirstCall/ -- Asset Acceptance Capital Corp. (NASDAQ:AACC) today announced the opening of a new legal and call center collections operation in Chicago. Located near Asset's previous operation, the new office will provide room for a workforce of more than 200, 80% of which is dedicated to collections activity. The new 20,905-square-foot facility offers employees on-site training facilities, new office equipment and offices for key members of site management. With approximately three times the square footage of the previous space, the new Chicago location represents yet another stage of Asset's stated growth strategy in key regional markets. The opening of the new Chicago location is the latest opening since the unveiling of Asset's corporate headquarters in February 2005 in Warren, Mich. "Chicago has always been a growth market for our legal and call center collections efforts," said Brad Bradley, CEO and president of Asset Acceptance. "Our investment in the Chicago office is part of our stated long- term strategy of investing in geographies that have the potential to become substantial contributors to our bottom-line. In keeping with our ongoing hiring and retention initiatives, we are actively recruiting experienced account representatives from the Chicago area to assist in our expanded call center operations." Asset currently has ten offices in eight states, all of which house either call center or legal collections operations. Highlighted by Asset's flagship 200,000-square-foot headquarters and call center in Warren, Mich., the Company has consistently shown a trend of smart facilities acquisition and management. "By expanding our presence in a market where Asset's collections expertise is already established, we are staying the course in our commitment to managing and driving growth over the long-term," said Bradley. "This new office space will help expand our presence and keep Asset atop the industry as a leader in debt collections." About Asset Acceptance Capital Corp. For more than 40 years, Asset Acceptance has provided credit originators, such as credit card issuers, consumer finance companies, retail merchants, utilities and others an efficient alternative in recovering defaulted consumer debt. For more information, please visit http://www.assetacceptance.com/ . Asset Acceptance Capital Corp. Safe Harbor Statement This press release contains certain statements, including the Company's plans and expectations regarding its operating strategies, charged-off receivables and costs, which are forward-looking statements and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's views, at the time such statements were made, with respect to the Company's future plans, objectives, events, portfolio purchases and pricing, collections and financial results such as revenues, expenses, income, earnings per share, capital expenditures, operating margins, financial position, expected results of operations and other financial items. Forward-looking statements are not guarantees of future performance; they are subject to risks and uncertainties. In addition, words such as "estimates," "expects," "intends," "should," "could," "will," variations of such words and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions ("Risk Factors") that are difficult to predict with regard to timing, extent, likelihood and degree of occurrence. There are a number of factors, many of which are beyond the Company's control, which could cause actual results and outcomes to differ materially from those described in the forward-looking statements. Risk Factors include, among others: ability to purchase charged- off consumer receivables at appropriate prices, ability to continue to acquire charged-off receivables in sufficient amounts to operate efficiently and profitably, employee turnover, ability to compete in the marketplace, acquiring charged-off receivables in industries that the Company has little or no experience, integration and operations of newly acquired businesses, and additional factors discussed in the Company's periodic reports filed with the Securities and Exchange Commission on Form 10-K and 10-Q and exhibits thereto. Other Risk Factors exist, and new Risk Factors emerge from time to time that may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. Furthermore, the Company expressly disclaims any obligation to update, amend or clarify forward-looking statements. In addition to the foregoing, several Risk Factors are discussed in the Company's most recently filed Annual Report on Form 10-K and other SEC filings, in each case under the section titled "Forward Looking Statements" and those discussions regarding risk factors as well as the discussion of forward- looking statements in such sections are incorporated herein by reference. DATASOURCE: Asset Acceptance Capital Corp. CONTACT: Noel Ryan III of Lambert, Edwards & Associates, Inc., +1-616-233-0500, , for Asset Acceptance Capital Corp. Web site: http://www.assetacceptance.com/

Copyright

Asset Acceptance Capital Corp. (MM) (NASDAQ:AACC)
Historical Stock Chart
From Jun 2024 to Jul 2024 Click Here for more Asset Acceptance Capital Corp. (MM) Charts.
Asset Acceptance Capital Corp. (MM) (NASDAQ:AACC)
Historical Stock Chart
From Jul 2023 to Jul 2024 Click Here for more Asset Acceptance Capital Corp. (MM) Charts.