BSR
BSR
  • 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
    • Seller Accounts
    • Need Help Selling?
    • Help With Finance New
    • Business Valuation
    • Business Wanted Adverts
  • Insights & News
    • View All News
    • View All Insights
  • Off-market
    • Source deals
  • Log In
  • Join Now
Join now
11111111

Home / News / Amigo founder puts company up for sale

Amigo founder puts company up for sale

Mon, 27 Jan 2020 | BUSINESS SALE

Amigo founder puts company up for sale

Amigo founder James Benamor has put the subprime lender up for sale, with the company announcing Benamor is looking for a buyer for his 60.6 per cent stake.

Amigo provides loans to individuals who have poor credit ratings but can provide a guarantor for the loan who agrees to be responsible should they fail to make repayments.

However, it is being pressurised by the Financial Conduct Authority’s attempts to crackdown on the guarantor-lending industry, over concerns that guarantors often don't understand the risk they are taking.

Benamor founded the firm in 2005 and ran it for a decade, he now controls Amigo through holding vehicle Richmond Group, which is Amigo’s biggest investor with a 60.6 per cent stake.

Benamor returned to the Amigo boardroom as a non-independent and non-executive director in December, following the company’s chief executive and chairman stepping down.

In August, Amigo said it needed to overhaul its business model amid warnings of slower annual growth. On Monday, the company said it was still facing a challenging environment but that its loan book growth and impairments for the nine-months to December 31, 2019 remained within guidance.

Amigo has appointed RBC Capital Markets to lead a strategy review of the company, this could potentially lead to a sale of all or parts of the business.

However, it has said it is yet to receive any approaches and has compiled a list of alternatives to a sale of the whole business, including a sale of the UK business, the sale of certain loan books and a reorganization of the group’s entities, among others.

“We continually look to enhance our processes and are monitoring developments with a view to assessing the long-term impact on the company,” the company said.


Share this article



Latest Businesses for Sale

Logistics Company
East Midlands, UK

This is an opportunity to acquire the assets of a logistics solutions company. This company specializes in a variety of logistics solutions including transportation, warehousing, and inventory management. They have a fleet of modern and well-maintain...

Asking Price: Offers Invited
Turnover: £1m - £2m

LEASEHOLD


Leadership Development Business
UK Wide

The company is an innovative leadership development business that focuses on enhancing the performance and engagement of CEOs and senior managers, along with that of the wider company culture. Operating across multiple sectors, the company designs...

Asking Price: Offers Invited
Turnover: £1,400,000

LEASEHOLD


Provider of ICT Support & Consultancy Services
UK Wide

The company’s offering comprises intelligent, realistic consultancy services in line with each client’s specific requirements and budget. This is backed up by engineers with a strong working knowledge of each business’s infrastructure, thus enabling...

Asking Price: Offers Invited
Turnover: £760,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Feb
 

Administrators exploring accelerated sale of telecoms contractor | ADMINISTRATION

Administrators from RSM UK Restructuring Advisory LLP are se...

 
06
 
Feb
 

M&Co brand bought out of administration, but 170 stores still to close | ADMINISTRATION

Scottish clothes retailer, M&Co has been bought out of admin...

 
06
 
Feb
 

Australian firm announced as preferred bidder for collapsed UK battery start-up | ADMINISTRATION

Recharge Industries has been named as the preferred bidder f...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
01
 
Jun
 

Amigo Loans 'considering insolvency' after court case | ADMINISTRATION

Loan company Amigo has said it is considering all options in...

 
09
 
Jun
 

Subprime lender Amigo abandons sale after buyer walks away | BUSINESS SALE

UK subprime lender Amigo Loans has abandoned its plans for a...

 
18
 
Feb
 

Subprime lender Amigo launches sale process | BUSINESS SALE

UK subprime lender Amigo has announced that it is in talks w...

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

logo
Our Services Distressed Businesses
  • Businesses for Sale
  • Distressed Companies
  • List a Business
  • Help with Finance
  • Buyer Acquisition Service
  • Small Businesses for Sale
Company Buy a Business
  • About BSR
  • Pricing
  • Insights
  • News
  • FAQs
  • Reviews
Get In Touch
020 8875 0200
[email protected]
167 Oakhill Road, London, SW15 2QW
Working hours: Mon-Fri, 9am - 5:30pm
About BSR
Business Sale Report is the UK's leading
independent business for sale & distressed business listing service.
Established in 1995, BSR offers an up-to-the-minute, comprehensive overview of businesses for sale, latest distressed business listings and daily acquisition news.
Subscribe

Subscribe to our newsletter to receive news about the latest businesses for sale.

  • Terms
  • Privacy
  • linkedin
  • facebook
  • twitter
© 1995-2023. Business Sale Report Ltd. All rights reserved. www.business-sale.com.