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BrandSource Launches Finance Firm


BrandSource has launched a
wholly owned wholesale finance firm for its CE, appliances
and home-furnishings buying group.

The new business, BrandSource Financial, is designed
to support member dealers and provide them
with additional opportunities for profitability and
growth, the buying group said.

BrandSource CEO Bob Lawrence said in a statement:
“BrandSource Financial offers all the capabilities
of any competitive wholesale finance company. In
this time of tight margins, our members will have additional
opportunity for profitability,” he added. “Since
we own it, we all share in the proceeds.”

Lawrence said BrandSource Financial will launch
with Electrolux immediately, and additional members
will be added every week until the company reaches
full rollout.

Lawrence credited several individuals for their
hard work in supporting the creation of BrandSource
Financial, including Bill Baptiste and Mike Cox at
BrandSource headquarters, here, and Kevin Leier
and Jacques LeCavalier of BrandSource Canada/

Lawrence also recognized Electrolux for its participation
in the program and its support of BrandSource
dealers and the independent channel.

BrandSource also said it has outsourced its Expert
Warehouse fulfillment program to distribution
powerhouse Ingram Micro, in advance of this month’s
Chapter 11 bankruptcy filing by the buying group’s
former distribution partner Archbrook Laguna. (See
additional coverage above.)