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Portfolio Recovery Associates UK's expansion supported by £1.2m Scottish Government grant

PRA. Pic Comp

A US firm which specialises in debt purchase and recovery is planing to create up to 400 new jobs in Kilmarnock by 2017.

Portfolio Recovery Associates UK, which describes itself as a leader in consumer debt buying, already employs around 300 people in Kilmarnock.

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The Scottish Government is supporting the company's Scottish expansion plan with a £1.2 million investment.

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First Minister Alex Salmond made the announcement on an official trip to New York.

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He said: “PRA UK is a well-known employer in Kilmarnock and the announcement of hundreds of new jobs is fantastic news for the area.

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“Last month, the Scottish Cabinet met in Ayrshire where we focused on community regeneration announcing funding of £1.7 million to help the area flourish.

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“I'm looking forward to meeting senior representatives of the company later today in New York as they confirm plans to create these new jobs for Kilmarnock.”

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Steve Fredrickson, chairman, president and chief executive officer, PRA said: “Portfolio Recovery Associates sees opportunity for business growth in the UK resulting in additional call centre jobs and other roles.

“The support of the RSA (Regional Selective Assistance) and East Ayrshire Council will help enable this growth.”

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Douglas Reid, leader of East Ayrshire Council, said: “The welcome jobs boost, along with financial support, adds to the ongoing regeneration of Kilmarnock as a thriving town which is open for business, as well as being a good place to live, with a strong sense of community and a real heart.

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Lowell together control 40 per cent of the UK market, S&P said.

“This employment on a large scale, is just reward for the effort we are putting in to economic development, and I would encourage any company with growth plans to come and talk to us.

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“I know that local people will make the most of this exciting opportunity, looking ahead to a great future for Kilmarnock and East Ayrshire.”

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