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Amigo Holdings secures cash for short-term operations

Sub-prime lender Amigo Holdings said today it had sufficient cash to operate for the next couple of months, following a reduction in its monthly corporate expenses.

Business • 30 Jun

Amigo, which provides credit to borrowers excluded from mainstream banks, is in an 'orderly solvent wind-down'

Amigo says open to proposals for reverse takeover

Subprime lender Amigo Holdings said today it continues to be open for a reverse takeover as the only possible prospect of delivering future value, after having received a number of unsuccessful tentative indications of interest.

Business • 18 Dec 23

Amigo is in an 'orderly solvent wind-down' after the cost of compensating customers for loans mis-sold in the past pushed it to the brink of collapse

Amigo says 'reverse takeover' deal terminated

A reverse takeover deal involving Amigo Holdings, Craven House Capital and various individuals signed last month has been terminated, the British subprime lender said today as if faces voluntary liquidation.

Business • 16 Nov 23

Amigo has granted shareholder Michael Fleming an exclusivity agreement, allowing the financier to look for financing options

Amigo shares triple after shareholder exclusivity deal

Shares in British small-cap Amigo Holdings more than tripled today after the company said it had granted shareholder Michael Fleming an exclusivity agreement, allowing the financier to look for financing options.

Business • 09 Jun 23

UK subprime lender Amigo Holdings said today it would stop lending immediately

Subprime lender Amigo to wind down business

UK subprime lender Amigo Holdings said today it would wind down after failing to secure adequate investor interest in a vital capital raise, ending months of efforts to restructure its ailing business.

Business • 23 Mar 23

Amgio won court approval last May for a compensation scheme for past customers and a rescue plan for the business

Amigo yet to get takers for capital raising

Amigo Holdings said today that it had so far failed to meet its target of £45m in a key capital raising, triggering a one-third plunge in its share price in morning trading.

Business • 27 Jan 23

Amigo won court approval in May for a compensation scheme for past customers and a rescue plan for the business

Amigo can't find cornerstone investor for capital raise

Amigo Holdings has failed to find a cornerstone investor for its planned capital raise, and is looking for a syndicate of investors to pull together £45m, the UK sub-prime lender said today.

Business • 16 Jan 23

The Financial Conduct Authority said it does not intend to go against the company's new business rescue plan in a UK court hearing

Amigo shares up as watchdog says it may resume lending

Shares in British sub-prime lender Amigo soared as much as 81% today after a financial regulator said the firm could resume lending subject to conditions and if its new business rescue plan was approved by the London High Court.

Business • 07 Mar 22

Amigo said today it was continuing to engage with the UK Financial Conduct Authority to find a way forward

Amigo says considering options, including insolvency

UK subprime lender Amigo Holdings said today it was considering all options for the company including a revised scheme of arrangement or insolvency, after a court last month rejected its rescue plan.

Business • 10 Jun 21

Amigo provides loans to borrowers who struggle to obtain credit from mainstream lenders if a friend or family member can act as a guarantor for them

Amigo enters new restrictions with UK watchdog

Amigo Holdings, which is embroiled in a dispute with its founder, has entered an Asset Voluntary Requirement with Britain's financial watchdog meaning the subprime lender will need approval to transfer assets outside of the group.

Business • 19 Oct 20

Amigo has today reported a first-quarter profit of £3m, down from £18m a year ago

Amigo shares climb over 30%, founder calls for takeover

Amigo Holdings has reported an 83% fall in first quarter profit and a 32% drop in revenue s payment holidays granted to customers affected by the coronavirus pandemic and a halt on almost all new lending hammered its returns.

Business • 28 Aug 20

Amigo is looking to end a period of turmoil for the company

Amigo appoints consultant to assist sale

Troubled Amigo Holdings said today it has appointed a consultant, Glen Crawford, to assist it with a strategic review and formal sale process, as the home loan provider looks to end a period of turmoil.

Business • 06 Mar 20