Curo Transatlantic Limited (04179322): administration
- Status
- Administration ended
- Administration began
- 2019-02-25
- Administrators
- Edward George Boyle, Howard Smith
- Administrators' firm
- KPMG
- Formerly
- Wage DAY Advance Limited; Cash 4 Compensation Ltd
- Incorporated
- 2001-03-14
- Location
- Leeds
- Industry
- 64999 Financial intermediation not elsewhere classified
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
- Competition / price pressure
From the administrators' statement
The Company was incorporated on 14 March 2001 and was a provider of short term, high cost finance to consumers in the UK. In 2018 the Company generated turnover in excess of £37.5 million. The Company is a 100% owned subsidiary of SRC, an entity incorporated in the UK, which ceased lending to customers in 2017.
The Company was acquired by the Parent, a listed American based business, in February 2013 and has been reliant on funding from the Group.
The Company operated from leasehold premises in Leeds and Nottingham and traded exclusively in the United Kingdom under two brands: WageDayAdvance and Juo Loans. It had 205 employees at the date of our appointment.
Administrators' statement of proposals (2019-04-11) · Companies House register