UK subprime lender Amigo is no longer up for sale after a potential bidder pulled out of the process and its chairman Stephen Wilcke resigned on June 7, it said today.
There were no other offers for the company, Amigo said in a statement.
The Financial Conduct Authority said last week it had launched an investigation into Amigo's creditworthiness assessment process.
Amigo was not recommending a final dividend for the year ending March 21 2020 and expected to report a "material increase in provision" due to customer complaints in its full-year results.
It said the cost of clearing a backlog of complaints covered by a voluntary arrangement with the FCA would be at least £35m and could be "materially higher", with customer complaints increasing significantly in recent weeks.
