CENTENNIAL, Colo. — Peak5, which rose from the ashes of failed Centrix earlier this year, is looking for a buyer.
CEO Kevin Barry said his auto loan servicing firm's contracts have run their course, with very little business coming in to replace it, and he's got three choices: find a buyer, raise rates and ride the market out another year or close his doors by year-end.
"Basically, we've got a similar story to everything people have been and hearing lately; we're suffering from cash and cost crunches and are not in a healthy revenue position at this time," Barry said.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
