Rent-A-Center Completes Sales Of 14 Canadian Stores

Rent-A-Center, Inc. (the "Company") (NASDAQ/NGS: RCII) today announced that it completed the sale of the assets and operations of 14 rent-to-own stores located in Alberta and Ontario to easyhome Ltd., Canada's largest merchandise leasing company and a growing provider of financial services. The transaction included the concurrent purchase by the Company of the assets and operations of 3 easyhome rent-to-own stores located in Florida, Missouri and New York. "Our multi-year plan to improve the profitability and performance of our Core U.S. segment continues to gain traction and deliver results. The sale of these stores allows us to place even greater emphasis on executing these initiatives," said Robert D. Davis, Chief Executive Officer of the Company. The Company will record in the third quarter of 2015 a pre-tax restructuring charge related to the sale of approximately $1.0 million, which is expected to include costs related to accelerated depreciation expense for fixed assets, leasehold improvements and write-off of merchandise inventory, early lease termination costs and other operating costs to decommission the stores. A rent-to-own industry leader, Plano, TX-based Rent-A-Center, Inc., is focused on improving the quality of life for its customers by providing them the opportunity to obtain ownership of high-quality, durable products such as consumer electronics, appliances, computers, furniture and accessories, under flexible rental purchase agreements with no long-term obligation. The Company owns and operates approximately 3,000 stores in the United States, Mexico, Canada and Puerto Rico, and approximately 1,430 Acceptance Now kiosk locations in the United States and Puerto Rico. Rent-A-Center Franchising International, Inc., a wholly owned subsidiary of the Company, is a national franchiser of approximately 180 rent-to-own stores operating under the trade names of "Rent-A-Center," "ColorTyme," and "RimTyme." For additional information about the Company, please visit our website at www.rentacenter.com.