Corporate Resource Services, Inc. (CRRS), a national provider of temporary and permanent staffing services (the “Company”), announced today that on April 18, 2012, it formed The CRS Group, Inc. as a wholly-owned subsidiary of the Company (“CGI”) to provide VMS services to its clients. The Company also announced that CGI entered into an agreement in principle with ZeroChaos, formerly known as Workforce Logic (“ZeroChaos”), to facilitate its ability to provide such VMS services. CGI and ZeroChaos expect to enter into a final, binding version of a VMS agreement on or before May 31, 2012. Because the Company’s clients frequently hire third party vendor managers to manage all facets of their temporary staffing needs, the Company anticipates that through its agreement with ZeroChaos, CGI will be able to act as a master vendor that will simplify the temporary staffing needs of the Company’s clients. The Company believes that providing VMS through CGI is a natural development in the Company’s business and should provide the Company with an additional revenue stream and better position it within the marketplace.
About Corporate Resource Services
Corporate Resource Services, Inc. is a national provider of diversified staffing, recruiting and consulting services, including temporary staffing services, with a focus on light industrial services, the insurance industry and clerical and administrative support. The Company provides its services across a variety of industries and to a diverse range of clients, ranging from sole proprietorships to Fortune 1000 companies. The Company conducts all of its business in the United States through the operation of over approximately 125 staffing and recruiting offices.
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