Greenlight Credit Ltd (07551524): administration
- Status
- Administration ended
- Administration began
- 2022-05-03
- Administrators
- Martin Charles Armstrong, Andrew Richard Bailey
- Administrators' firm
- Interpath Advisory
- Incorporated
- 2011-03-04
- Location
- Weybridge
- Industry
- 64929 Other credit granting n.e.c.
Why it went into administration
- COVID-19
- Regulatory change or action
- Creditor pressure / legal action
- Property / lease costs
- Sustained trading losses
- Competition / price pressure
From the administrators' statement
Creditors should note that, unless otherwise stated, this section of my proposals has been prepared based on information provided to me by the directors of the Company and not from my personal knowledge as Administrator.
The Company was incorporated on 4 March 2011 and commenced trading soon after. It traded from Abbey House, Wellington Way, Weybridge, Surrey, KT13 OTT, which it occupied as subject of a tenancy agreement of 7 April 2021 between the Company and Air Products Plc, at a rent of £6,594 per calendar month.
The principal activity of the Company has continued to be that of granting secured customer loans using the borrower's vehicle as collateral. It acted as a Logbook Loan Lender, and more recently a broker, enabling customers to borrow up to 70% of their vehicle’s trade value. It is a consumer finance company which was originally licenced by the Office of Fair Trading for logbook lending. From 1 April 2014 the Company was authorised by the Financial Conduct Authority (FCA) Initially this was on an interim permission until March 2016 since when the Company has been authorised by the FCA.
Administrators' statement of proposals (2022-07-04) · Companies House register