Staffing 360 Solutions Extends Its Presence in South Carolina with New Office in Greenville-Spartanburg
Company Now Operates in 18 Offices
NEW YORK, July 16, 2018 (GLOBE NEWSWIRE) -- Staffing 360 Solutions, Inc. (Nasdaq:STAF) (“STAF 360” or “the Company”), a staffing solutions company executing a global buy-and-build strategy in the U.S. and in the UK, today announced that its Monroe Staffing Solutions subsidiary expanded its presence in South Carolina with a new office in Greenville-Spartanburg (G-S), which will be fully operational before the end of July.
This new office, represents the Company’s 18th location, its second one in the growing staffing market of South Carolina, and it is part of STAF 360’s expansion strategy along the eastern seaboard. Of note, Greenville is the 4th fastest growing city in the US and accounts for over 17% of South Carolina’s economic growth.
“The G-S office is the next stop on our journey to becoming a $500 million annualized revenue company within the next two years and will help us increase our market share in the manufacturing and engineering staffing sectors in South Carolina, following our successful launch in Fort Mill just eight months ago,” said Paul Polito, President of Commercial Staffing for STAF 360.
Mr. Polito, a graduate of nearby Clemson University, continued, “We continue to execute our sales and operational strategy, aiming to deliver profitable growth to our investors. We have veteran leadership in Brad Schapiro, Director of Operations, and in Matt Gorman, Director of Contingent Workforce Management, to execute upon this plan.”
Brendan Flood, Chairman and Chief Executive Officer of the Company, stated, “When we opened our Fort Mill office we outlined our expansion plan into South Carolina, allowing us to drive organic growth into the G-S area and onwards to Atlanta GA, while also providing direct access to Charlotte NC. We continue to view the Carolinas as a great opportunity for our growth story.”
About Staffing 360 Solutions, Inc.
Staffing 360 Solutions, Inc. (NASDAQ:STAF) is a public company in the staffing sector engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the US and UK. The Company believes the staffing industry offers opportunities for accretive acquisitions that will drive its annual revenues to $500 million. As part of its targeted consolidation model, the Company is pursuing acquisition targets in the finance and accounting, administrative, engineering and IT staffing space. For more information, please visit: .
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Forward-Looking Statements
Certain matters discussed within this press release are forward-looking statements including, but not limited to the timing and ability to enter into any additional acquisitions and expand our business, as well as the size of future revenue or trading volume or future access to capital markets. Although Staffing 360 Solutions, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Specifically, for the Company to achieve annualized revenues of $500 million, the Company will need to successfully raise sufficient capital, to consummate additional target acquisitions, successfully integrate any newly acquired companies, organically grow its business, successfully defend any potential future litigation, as well as various additional contingencies, many of which are unknown at this time and generally out of the Company's control. The Company can give no assurance that it will be able to achieve these objectives. Staffing 360 Solutions does not undertake any duty to update any statements contained herein (including any forward-looking statements), except as required by law. Factors that could cause actual results to differ materially from expectations include general industry considerations, regulatory changes, changes in local or national economic conditions, our ability to access the capital markets on terms acceptable to us, or at all, our ability to comply with our contractual covenants, including in respect of our debt and other risks detailed from time to time in Staffing 360 Solutions' reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.
Contacts:
Investor Relations:
The Equity Group, Inc.
Lena Cati
/ +1 (212) 836-9611
Devin Sullivan
/ +1 (212) 836-9608
Staffing 360 Solutions, Inc.
Brendan Flood, Chairman and CEO
/ +1 (646) 507-5715
David Faiman, Chief Financial Officer
/+1 (646) 507-5711
