Westaff Opens Franchise Office In Wisconsin

Though it lost $25.2 million in the second quarter, personnel company Westaff Inc. continues to expand, setting up a franchise office in Madison, Wis.

Jim Holwerda owns the franchise and runs the new office, which opens Sept. 15.

The Walnut Creek company (NASDAQ: WSTF) has 204 offices in the United States, Australia and New Zealand.

In March, Westaff sold its subsidiary in the United Kingdom for $6.7 million to Fortis Recruitment Group Ltd.

The company said that strong sales in Australia and New Zealand have helped offset falling sales in the United States.

Westaff made a forbearance deal with U.S. Bank and Wells Fargo earlier this month because it was in default on loans from them.

This deal, signed July 31, means the banks won't take any action against Westaff until Aug. 26.

Michael Willis is CEO and chairman of Westaff. Trish Newman, the former CEO of the company, started her own boutique staffing company, Newman Scout, in Walnut Creek recently. She led Westaff from 2005 until mid-2007.

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