Nicholas Financial discontinues exploration of strategic alternatives

|About: Nicholas Financial, Inc. (NICK)|By:, SA News Editor

Additionally, company founder Peter Vosotas resigned from the chairman's role late last month, and he's been replaced by CEO Ralph Finkenbrink, with Nicholas (NICK) saying the resignation was for personal reasons and not over any disagreement with company policy.

Nicholas last month pulled the plug on a sale of the company to Prospect Capital (PSEC) as the SEC's investigation of an accounting issue at Prospect had pushed off the closing.