WDFC UK Limited (06374235): administration
- Status
- Administration ended
- Administration began
- 2018-08-31
- Administrators
- Christine Mary Laverty, Daniel Robert Whiteley Smith, Andrew Charters
- Administrators' firm
- Grant Thornton
- Formerly
- Wonga.Com Limited
- Incorporated
- 2007-09-18
- Location
- Manchester
- Industry
- 64929 Other credit granting n.e.c.
Why it went into administration
- Regulatory change or action
- Competition / price pressure
From the administrators' statement
Wonga Group Limited (formerly Quickbridge (UK) Limited) (WGL) was incorporated on 4 August 2006 and its UK trading subsidiary company WDFC UK Limited (formerty Wonga.com Limited) was incorporated on
18 September 2007. The activity of the Group carried out through Wonga UK, which commenced trading in 2008, was the provision short term loans that borrowers applied for via the company’s website or by mobile phone with automated lending decisions utilising loan approval technology developed by the Group. Initially the Group operated only in the UK, through Wonga UK but by 20171 it had established a number of operations overseas, including a customer services support centre in South Africa.
The UK business grew rapidly supported by extensive advertising and sponsorship campaigns, and by 2012 Wonga UK was providing 3.9 million loans and advancing funds totalling £1.17 billion during the year.
Administrators' statement of proposals (2018-11-08) · Companies House register