SIOUX FALLS, SD – 10 days after the State of South Dakota ruled Dollar Loan Centers in Rapid City and Sioux Falls, would not be able to issue any more loans, an announcement was posted on the station’s website that rock radio outlet KBAD-FM 94.5, and all of the Badlands entities have closed. Both Dollar Loan Centers and the Badlands companies are owned by Chuck Brennan. In the statement on the website, the company says Dollar Loan Centers was reinvesting in the community through the Badlands companies.
“While we would like to resolve the current issues quickly, we expect that the costs and time constraints of litigation will be considerable,” the statement on the radio station’s website said.
This is just one of Brennan’s companies that have closed in South Dakota. Last December, Brennan Rock & Roll Academy, an organization designed to give free music lessons to underprivileged kids closed. In January, Badlands Pawn shut down following the statewide interest rate cap. Badlands Motor Speedway suspended races in April. Badlands Gun Range has also closed.
KBAD was the top rock station, and third overall in Sioux Falls according to Nielsen Radio rankings.
This week the Dollar Loan Center filed a lawsuit suing the director of South Dakota’s division of banking over Initiated Measure 21.
“We owe a great deal of gratitude to our team, the loyal customers, and the incredible number of South Dakotan’s that helped bring this project to life,” the Badlands company put in a statement on their website.