Winmark Corp, the parent of Play It Again Sports, announced that it would no longer solicit new leasing customers and would pursue an orderly run-off for its middle-market leasing portfolio.
Brett D. Heffes, chairman and CEO, stated, “Going forward, we intend to focus all of our resources on enhancing our leadership position in the large and growing resale market. We have determined that running off the existing portfolio will maximize value for our shareholders.”
Winmark’s resale franchises include Plato’s Closet, Once Upon A Child, Play It Again Sports, Style Encore, and Music Go Round. At March 27, 2021, there were 1,264 franchises in operation and over 2,000 available territories. An additional 32 franchises have been awarded but are not open.
Photo courtesy Play It Again Sports
