Payday lender prepares for £18m compensation payout

The Nottingham-based owner of The Money Shop, the short-term loans company, is set to ring-fence some £18m which will be used as compensation for creditors, according to reports. SKy News says that Instant Cash Loans (ICL), which owns The Money Shop, Payday Express and Payday UK, has been engaged in talks with the City watchdog for some weeks now nd is set to write to its £2m customers on Thursday this week to ask for support for its scheme of arrangements. If this gets the go-ahead, customers could receive payments if they can m... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
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