Photo Release -- PRA Expands Its Headquarters to Accommodate Continued
Mayor Fraim Recognizes PRA "As a Great Corporate Citizen of Norfolk"
NORFOLK, Va., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Portfolio Recovery Associates,
Inc. (Nasdaq:PRAA), a financial and business services company operating in the
U.S. and the U.K, today announced the opening of expanded facilities at its
Norfolk headquarters to play a key role in managing PRA's continued growth.
Norfolk Mayor Paul D. Fraim, at right,
celebrates expansion of Portfolio
Recovery Associates headquarters with
CEO Steve Fredrickson.
A photo accompanying this release is available at
"As a result of our strategy to press the company's many competitive
advantages in a debt buying and collections marketplace that continues to
consolidate, PRA has experienced exceptional growth this year, and sees future
growth in Norfolk in the years ahead," said Steve Fredrickson, chairman,
president and chief executive officer, PRA.
PRA expanded its call center and professional offices at 120 Corporate
Boulevard into 30,000 square feet of adjacent space. PRA now leases 130,000
square feet of space, including two other buildings in the Riverside Commerce
Center along Military Highway, the site of PRA's headquarters since 1999.
At a ceremony today attended by PRA employees, Mayor Paul D. Fraim said, "I
could not be more pleased with Portfolio Recovery Associates' decision to
expand its operations in Norfolk. It's a great company and a great corporate
citizen of Norfolk that's been recognized as one of Forbes' Top 25 small
companies and one of the fastest growing companies in the country. Norfolk is
proud to serve as PRA's corporate headquarters, and we greatly appreciate
their confidence in our city."
PRA added 45 new jobs in Norfolk this year, raising the number of employees at
its headquarters to 1,020. The company also announced plans to hire more than
30 new employees in Norfolk before year-end, including an ETL developer,
corporate attorneys, a recruiting manager, a SQL database administrator, and a
sales & business development manager.
PRA has 409 employees in Hampton, where the company also continues to hire.
Qualified candidates who are interested in applying for open positions at
PRA's Norfolk and Hampton offices may visit www.portfoliorecovery.com/careers.
As a leader in the U.S. debt buying industry, Portfolio Recovery Associates,
Inc. (Nasdaq: PRAA) returns capital to banks and other creditors that helps
expand financial services for consumers. PRA collaborates with its customers
to create affordable, realistic debt repayment plans. The company also
provides a broad range of fee-based services to local governments, auto
lenders and law enforcement, U.S. businesses, institutional investors, global
hedge funds, and U.K. banks and creditors.
PRA was recognized as one of Fortune's 100 Fastest-Growing Companies in 2013
and 2012. The company also has been named to the Top 25 of Forbes' Best Small
Companies in America for the past two years and has been annually ranked on
Forbes' list since 2007.
CONTACT: News Media Contact:
Vice President, Corporate Communications
Portfolio Recovery Associates, Inc.
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