Amigo said it has secured three months breathing space on a funding line as it scrambles for its survival, but it has been cut to £100m from £250m.

A court rejected a rescue plan last month for British subprime lender Amigo.

Its shares were up 12% today after it said had agreed a waiver on the performance triggers on a securitisation facility be extended to September 24 from June 25.

Amigo has been under pressure after a deluge of customer mis-selling complaints threatened its collapse.

London's High Court rejected its proposed rescue plan in May that would have cut payouts to customers, after it was opposed by the Financial Conduct Authority.

Amigo said the securitisation facility was cut because of an ongoing suspension on new lending. At the date of extension, the facility was drawn at £27m, it added.

The company also repeated that it was reviewing its options, including a new rescue plan or insolvency.