Xpress Money Services Limited (03895702): administration
- Status
- Administration ended
- Administration began
- 2022-02-11
- Administrators
- Philip Reynolds, David Paul Hudson
- Administrators' firm
- FRP Advisory
- Formerly
- Express Money Services Limited
- Incorporated
- 1999-12-16
- Location
- London
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Regulatory change or action
- Cash flow / liquidity pressure
- HMRC / tax arrears
From the administrators' statement
The Company was incorporated as Express Money Services Limited on 16 December 1999 and changed its name to Xpress Money Services Limited on 20 January 2000. At the time of the Joint Special Administrators’ appointment, the Company had its registered office and trading address at Level 10, One Canada Square, Canary Wharf, London, E14 5AB. The Company had one serving director and eight employees at this time.
The Company is a wholly-owned subsidiary of UAE Exchange International Holding Limited and is part of a global group of companies under the common ultimate beneficial ownership of Finablr PLC, a company listed on the London Stock Exchange, which was itself placed into administration on 11 March 2022.
The Company is an authorised payment institution, regulated by the FCA under the PSR. The Company's FCA firm reference number is 504589.
Administrators' statement of proposals (2022-04-09) · Companies House register