Biggest payday lender QuickQuid on brink of collapse

Biggest payday lender QuickQuid on brink of collapse

CashEuroNet UK is lining up Wonga’s administrator, Grant Thornton, to deal with its insolvency, Sky Information learns.

24 October 2019 15:45, UK thursday

Britain’s biggest-remaining payday lender is from the verge of collapse, accelerating the demise of consumer finance providers within the wake of the regulatory crackdown.

Sky Information has learnt that CashEuroNet UK, which trades underneath the QuickQuid brand name, could possibly be placed into management within a matter of a few short days.

The UK’s biggest short-term lender – was plunged into insolvency amid a deluge of customer compensation claims if confirmed, the move would come little more than a year after Wonga – at the time.

Grant Thornton, which will be managing the management of Wonga, is recognized to possess been prearranged to attempt the role that is same CashEuroNet British in the event that parent business’s board chooses to pursue an insolvency procedure. […]

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