Jefferson Capital Completes Acquisition of Portfolios from Conn’s Inc. and Badcock Home Furniture & More
Jefferson Capital is pleased to announce the completion of its purchase of performing and non-performing portfolios from Conn’s Inc. and Badcock Home Furniture & More. With an investment of approximately $340 million, the acquisition aligns seamlessly with the company’s strategy to leverage its deep expertise in servicing unique portfolios and its ample financial capacity to fund small and large portfolio acquisitions as it maintains its leadership position in the consumer receivables industry.
About Conn’s Inc. and Badcock
Conn’s Inc. and Badcock Home Furniture & More are prominent furniture retailers located primarily in the Southern United States. In addition to selling home furnishings, both companies provided in-house sales financing and account collection services before filing for Chapter 11 bankruptcy protection in July 2024. The generally low balance and subprime accounts that Jefferson Capital acquired and is servicing are in various levels of delinquency and collection phases and include performing accounts. Jefferson Capital purchased the receivables as part of the bankruptcy proceeding, and the company is welcoming over 200 of the Conn’s and Badcock associates to join the Jefferson Capital team at its new collections office located in San Antonio, Texas. The transaction does not include any of the retail operations or assets of Conn’s or Badcock and Jefferson Capital will not originate new loans.
“This transaction is another important moment for Jefferson Capital, showcasing the dedication, expertise, and collaborative spirit that define our company. It fits well within our capabilities to service and collect on low balance subprime accounts in a wide variety of asset classes,” said David Burton, Jefferson Capital’s CEO. “Our team has over 22 years of experience managing dislocated consumer credit portfolios, beginning with the Fingerhut portfolio acquired by CompuCredit in 2002. That portfolio had a lot of similar characteristics to these portfolios,” said Burton. “The successful wind down of the Fingerhut portfolio many years ago was a key driver for the formation of Jefferson Capital as a separate business, and this transaction likewise showcases our ability to provide creative and complete solutions for consumer credit originators that have accounts with various levels of delinquency.”
About Jefferson Capital Holdings, LLC
Founded in 2002, Jefferson Capital is an analytically driven purchaser and manager of charged-off and insolvency consumer accounts with operations in the United States, Canada, the United Kingdom and Latin America. It purchases and services both secured and unsecured assets, and its growing client base includes Fortune 500 creditors, banks, fintech origination platforms, telecommunications and utilities providers, credit card issuers and auto finance companies. Jefferson Capital is headquartered in Minneapolis, Minnesota with additional offices and operations located in Sartell, Minnesota; Denver, Colorado; and San Antonio, Texas (United States); Basingstoke, England; London, England; and Paisley, Scotland (United Kingdom); London, Ontario and Toronto, Ontario (Canada); as well as Bogota (Colombia).
For more information about Jefferson Capital and its services, please contact our Business Development Team. In the United States Penny Campbell (320) 333-0318, Bob Maisel (320) 229-8514, Connie Thomas (702) 336-7774, or Juan Carlos Rodriguez (787) 378-9404. In the United Kingdom Peter Copperwheat 01256 306700/07786 910910. In Canada Mark Daprato (416) 520-5944 or Michael Chiu (647) 725-6195. In Latin America Juan Felipe Duque 57 3183591879. Visit our websites, www.jcap.com (U.S.); www.carsuk.org (U.K.); and www.canaccede.com (Canada).