Pentagroup Financial Services LLC, a debt collection company, will close its Houston location, eliminating 123 positions.
Pentagroup Financial Services LLC, a debt collections company, will close its Houston location, eliminating 123 positions.
The location, at 5959 Corporate Drive, will close on Sept. 27, according to a Worker Adjustment and Retraining Notification Act letter filed with the Texas Workforce Commission.
The affected employees are not represented by a union, but almost all of them have the opportunity to relocate to the company?s other U.S. locations, according to the letter.
The company was not immediately available for comment. Pentagroup Financial is a CBV Collections Services company.
According to a press release posted to insideARM.com, a website for the accounts receivable management industry, Canada-based CBV Collection Services Ltd. announced earlier this year its Phoenix-based subsidiary Primary Financial Services LLC would acquire Pentagroup Financial. Terms of the deal, which were to go into effect in March, were not disclosed.
In addition to Phoenix, Primary Financial Services also has a location in Amherst, N.Y., according to its website.
Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website. Follow her on Twitter for more.
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