---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-012768"
form_type: "8-K"
ticker: "OMCC"
cik: "0001000045"
company_name: "OLD MARKET CAPITAL Corp"
filed_at: "2022-07-18T23:59:59+00:00"
generated_at: "2026-06-24T12:58:37.636980+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-22-012768
- form_type: 8-K
- ticker: OMCC
- cik: 0001000045
- company_name: OLD MARKET CAPITAL Corp
- filed_at: 2022-07-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.05
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1000045/000095017022012768/0000950170-22-012768-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1000045/000095017022012768/nick-20220718.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-012768
- JSON: https://secwatch.observer/filing/0000950170-22-012768.json
- Plain text: https://secwatch.observer/filing/0000950170-22-012768.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.