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Community Choice Financial withdraws $118 million US IPO

May 10, 2012

Community Choice Financial, which provides payday loans and check cashing services to under-banked consumers, withdrew its plans for an initial public offering on Thursday. The company, which booked $307 million in sales in 2011, had postponed its offering on Monday after cutting its price range earlier in the day. Credit Suisse, Jefferies and Stephens were set to be the joint bookrunners on the deal.