Cash Converters, the retailer of pre-owned and nearly new goods, has opened its 130th store in the UK.

The store in West Bromwich is operated by multi-store owner, Henry Nhandra with an investment of £100,000.

Cash Converters aims to have more than 145 stores trading in the UK by the end of 2009.

From its launch in Australia in 1984, the company has grown to more than 500 stores in over 21 countries.

Mark Lemmon, chief executive of Cash Converters, said: 'This is a great achievement and our continued store growth reflects the popularity of the range of services, from pawnbroking and cheque cashing to buybacks.

'As traditional forms of borrowing become less widely available, people from all walks of life are realising the benefits of the various services offered by Cash Converters to meet short term financial requirements,' he added.

Cash Converters said it had benefited from double figure percentage increases sales growth for the last seven years, and a noticeable acceleration in growth during the last two years.