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View All NewsHireQuest finalizes sale of California offices, converts remaining branches to franchise model
HireQuest Inc. (NASDAQ: HQI) announced today that it completed the sale of four staffing locations in California and the conversion of its remaining branches to its franchise business model.
The company, which provides back-office and operational support for franchised temporary staffing firms, merged with industrial and administrative staffing firm Command Center earlier this year and began converting Command Center’s company-owned staffing locations to franchise models.
HireQuest’s four California locations were sold for $1.8 million to Resolute Enterprises LLC, according to a filing with the US Securities and Exchange Commission. The California offices are in Corona, Hayward, Sacrament and Fresno.
The filing also reported the company entered into asset purchase agreements with a new franchisee to convert its 26 remaining company-owned offices to a franchise model. The purchase price for the franchise offices was $9.7 million.
HireQuest is based in Goose Creek, South Carolina.