Nicholas Financial to close 11 branches (23% of network), cut 44 jobs; expects $0.9-1.0M charges

OLD MARKET CAPITAL Corp

Closure of 11 branches (~23% of network) and reduction of ~44 employees (17% of workforce).
Expected total cash charges of $0.9M-1.0M, plus <$0.1M non-cash impairment on lease obligations.
Employee-related costs estimated at $42,000; lease obligations at $898,000.
Majority of charges expected to be recorded in Q2 of fiscal year 2023.

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