Home
Distressed Businesses
  • All Distressed Businessess
  • Administrations
  • Liquidations
  • Winding Up
  • Insolvency Advice  New
Buy a Business
  • All Businesses for Sale
  • Find a Business for Sale
  • Raising Business Finance
  • Buyer Acquisition Service   New
  • Escrow Service   New
Sell a Business
  • Sell Your Business
  • List your Business
  • Seller Accounts
  • Need Help Selling?
  • Help With Finance New
  • Corporate Services  New
  • Business Valuation
  • Business Wanted Adverts
Insights & News
  • View All News
  • View All Insights
  • Exclusive Insights New
Lens
  • Search all UK Companies  New
Log in
Join Now

Home / News / P2P lender falls into administration

P2P lender falls into administration

Mon, 28 Dec 2020 | ADMINISTRATION



Peer-to-peer (P2P) lender MoneyThing has fallen into administration, citing the unaffordable costs of litigation by a borrower.

The company said: “The directors of MoneyThing have taken this decision in order to protect the interests of the companies’ creditors as a whole. “We have taken into account the tougher trading conditions experienced in 2020 as well as litigation by a MoneyThing borrower.

“The joint administrators will assume responsibility for managing the companies’ affairs. They will continue the orderly wind-down of the remaining MoneyThing P2P loanbook, return monies to lenders and conclude the firm’s business activities.”

“The appointment is not expected to have a material impact on lenders or borrowers. MoneyThing’s existing directors will continue to provide full support to ensure a smooth handover and will remain involved in the business’s operational activities, reporting to the joint administrators.”

Moorfields Advisory’s Tom Straw and Milan Vuceljic have been appointed as joint administrators for the company.

MoneyThing investors will continue to receive capital and interest according to the terms they have agreed. The lender had pledged to continue providing updates, but said that specific questions about the administration should be directed to Moorfields.

The Financial Conduct Authority (FCA) has warned MoneyThing clients against involving third parties in their claims against the company and instead advised them to contact the joint administrators.


View the latest distressed UK businesses here.


Share this article



Latest Businesses for Sale

Manufacturer and Retailer of Paints and Markers
UK Wide

Retails its products under its own branding on its e-commerce website and eBay and Amazon platforms, also offering a white-label service to larger corporate clients. Operates on an international basis, catering to DIY retailers and organisations in t...

Asking Price: Offers Invited
Turnover: £4,200,000

LEASEHOLD


Specialist Recruitment Agency
UK Wide

Established employment agency specialising in supplying permanent contract and temporary candidates for vacancies in highly specialist sectors. With a strong foothold in multiple niche disciplines the company has in-depth specialist knowledge working...

Asking Price: Offers Invited
Turnover: £1,120,000

A unique opportunity to acquire and expand a green energy business
M25 corridor, South East, UK

An established green energy company with potential revenues of £46m-£57m (total revenue from 2022-2047). The company is offered for sale with a pie-crust lease on two former landfill sites with a combined 206 acres of land suitable for tree planting...

Asking Price: Offers Invited
Turnover: £2,500,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Insolvencies forecast to surge 37 per cent in 2022 as inflation hits 40-year high | BUSINESS NEWS

Businesses in the UK look set to come under continuing press...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
20
 
May
 

Administrators seek buyer for gourmet instant noodle brand | ADMINISTRATION

Bournemouth-based instant foods brand Mr Lee’s Pure Fo...

 
19
 
May
 

Knights continues acquisition-lead growth strategy with £11.5m deal for law firm | BUSINESS SALE

Legal services company Knights has acquired Portsmouth-headq...

 
18
 
May
 

Cotswolds pub in prime tourist town comes to market for £1.3m | BUSINESS SALE

The Mousetrap Inn in the popular Cotswolds tourist town of B...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources

Become a Member

News Categories

  • - Business Sale
  • - Division Sale
  • - Administration
  • - MBO/MBI
  • - Merger
  • - Commercial Property

View all news


About Us

Business Sale Report is the UK's leading independent business for sale & distressed business listing service. Established in 1995, the report offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.

Our Services

Businesses for Sale
Distressed Companies
List a Business
Help with Finance
Buyer Acquisition Service
Small Businesses for Sale

Company

About Us
Insights
News
FAQs
Reviews
Terms & Conditions
Privacy Policy

Get In Touch

020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm


Sign up to our free newsletter



© 1995-2022. Business Sale Report Ltd. All rights reserved. www.business-sale.com.