More than half of CCC offices closed

More than half of CCC offices closed
Tags: Distributors / ISO / IAD
January 10, 2002

PHILADELPHIA -- According to a Philadelphia Inquirer report, Credit Card Center has laid off scores of workers and closed a large number of offices. The report says that CCC currently maintains 27 regional offices across the country, down from a peak of 70 or so last year.

The privately held CCC says it is trying to pay money it owes to thousands of store owners in at least 10 states.

Thomas Pfender, an attorney representing the company, told the Inquirer that CCC had won an oral commitment from an unnamed financial institution that would let the company pay those of its 17,000 merchant-clients who are still willing to use the company's maintenance services.