# WYE Finance Co Limited (00645461)

> Why UK company 00645461 went into administration, from the administrators' statement filed at Companies House, by companydig. Interactive version: https://companydig.co.uk/company/00645461

- **Status:** In administration
- **Administration began:** 2026-02-10
- **Administrators:** Lee Antony Manning, Mark Supperstone
- **Administrators' firm:** S&W Partners
- **Incorporated:** 1959-12-24
- **Location:** London
- **Industry:** 82990 Other business support service activities n.e.c.

## Why it went into administration

- Management failings / irregularities
- Regulatory change or action
- Cyber attack / IT failure
- Competition / price pressure

## From the administrators' statement

Wye Finance Co Limited (the “Company”) was incorporated on 24 December 1959 and operated from its principal premises at 86 St Owen Street, Hereford (the “Property”). The Company specialised in advancing hire-purchase and loan agreements to consumers and, to a lesser extent, small businesses. Lending was generated through direct customer contact, word-of-mouth referrals and relationships with local vehicle dealerships. The Company was authorised and regulated by the Financial Conduct Authority (“FCA”).

The Company’s lending activities were funded entirely through block-discounting arrangements under which the Block Lenders advanced funds secured against portfolios of receivables. These arrangements were structured with fixed charges over certain receivables and floating charges over others, and over time the majority of the Company’s loan book became subject to these facilities. In January 2026, the Director, Tom Merrick, informed the Block Lenders that a substantial number of loan agreements recorded within the Company's systems were fraudulent. This disclosure was made voluntarily by the Director.

Based on information currently available, it is estimated 393 fraudulent loan agreements may have been created, with 258 appearing to be genuine and performing at this stage. The full extent and duration of the fraudulent activity is unknown at this stage, and further work is required to determine when it first commenced. The activity involved the fabrication of loan documentation using details of genuine borrowers, with the resulting fictitious agreements being intermingled with bona fide loans across the Company’s systems and operational records.

Statement of proposals: https://find-and-update.company-information.service.gov.uk/company/00645461/filing-history/MzUxMzk0ODc5MmFkaXF6a2N4/document?format=pdf&download=0
Companies House register: https://find-and-update.company-information.service.gov.uk/company/00645461

Contains public sector information from Companies House, licensed under the Open Government Licence v3.0.