Indigo Michael Limited (07721420): administration
- Status
- Administration ended
- Administration began
- 2023-01-09
- Administrators
- Clare Kennedy, Joseph O'Connor, Simon Jonathan Appell
- Administrators' firm
- AlixPartners
- Incorporated
- 2011-07-28
- Location
- Manchester
- Industry
- 82990 Other business support service activities n.e.c.
Why it went into administration
- Regulatory change or action
- Funding withdrawn / unable to refinance
- Cash flow / liquidity pressure
- Sustained trading losses
From the administrators' statement
IML is a UK-based operator whose principal activity is the provision of consumer credit services under the consumer-facing brand names Tappily and SafetyNet. ATSL’s principal activity is the provision of software services to IML.
Both Tappily and SafetyNet products offer customers a flexible credit facility whereby money can be borrowed up to a certain limit, and once repaid, the funds are available to borrow again.
IML is regulated by the Financial Conduct Authority (FCA) to carry on the business of entering into regulated credit agreements as lender and credit broking. IML is also authorised by the FCA as an authorised payment institution to carry out payment initiation services and account information services.
Administrators' statement of proposals (2023-03-10) · Companies House register