Finance
UK sub-prime lender Amigo Holdings to become a shell company
Published by Global Banking & Finance Review®
Posted on September 17, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on September 17, 2025
1 min readLast updated: January 21, 2026
Amigo Holdings plans to become a shell company amid liquidation and explores a reverse takeover. It faces financial challenges due to mis-sold loans.
(Reuters) -British sub-prime lender Amigo Holdings said it intends to appoint liquidators for its operating subsidiaries as it continues to explore a potential reverse takeover.
The company will become a shell after the wind-down.
Amigo, which offered high-interest loans to borrowers excluded from mainstream banks, was censured by the Financial Conduct Authority in 2023 for mis‑selling loans, leaving many customers struggling with unaffordable debt.
Last November, Amigo said it would voluntarily liquidate if it failed to find a partner, as compensation costs for mis-sold loans pushed it to the brink of collapse.
Since then, it has shut its legacy business, seen its chief executive depart and cut corporate costs to secure short-term cash.
"We are pleased that we will be able to continue (and hopefully successfully conclude) our discussion with reverse takeover targets for a few more months," CEO Nick Beal said.
Amigo said it expects to fund working capital from a residual pool of cash as it undergoes a solvent wind-down.
(Reporting by Unnamalai L in Bengaluru; Editing by Tasim Zahid)
Amigo Holdings intends to appoint liquidators for its operating subsidiaries as it explores a potential reverse takeover.
The company is facing liquidation due to compensation costs for mis-sold loans, which have pushed it to the brink of collapse.
In 2023, the Financial Conduct Authority censured Amigo for mis-selling loans, leaving many customers struggling with repayments.
Amigo has shut its legacy business, seen its CEO depart, and cut corporate costs to secure short-term cash.
Amigo expects to fund its working capital from a residual pool of cash as it undergoes a solvent wind-down.
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