Takeover leads to closure of Kirkcaldy town centre money shop

The doors to The Money Shop have closed after Ramsdens bought the chain in a £1.5m deal.

It has moved the instant cash loan company into its existing Ramsdens store just a few hundred yards along the street.

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The deal saw it acquire the pawnbroking loan books of 18 stores and of five other The Money Shop stores which are in the process of closing.

Peter Kenyon, CEO of Ramsdens, said: “We are delighted to announce this value-enhancing acquisition and welcome our new colleagues and customers to Ramsdens.

“This acquisition further expands the reach of the Ramsdens brand and our trusted offering across communities in the UK and demonstrates the significant growth opportunities available to the Group in the fragmented UK market.

“Ramsdens has a proven track record of acquiring stores and quickly integrating them into the Group and we will now prioritise our resources on these acquired stores. We are confident that this acquisition will deliver value for the Group’s shareholders as well as the local communities where they operate.”

Meanwhile, Santander is set to depart the High Street.

Its previously announced raft of branch closures will see the doors to the building society in Kirkcaldy’s High Street shut today (Thursday June 13).

The company closed its St Andrews premises in May, leaving just one branch in the Kingdom – in Dunfermline.