Troubled lender Amigo Loans has said it has been handed a small lifeline as it battles for a survival which is looking increasingly unlikely.
The Bournemouth-based company is in the process of winding down ahead of being liquidated, having halted all lending in March. The firm had been facing financial difficulties after being ordered to make compensation payments to former and current customers over historical complaints.
After it was unable to meet the terms of a High Court scheme, Amigo said it had been forced to use its "fallback option" and would wind down the business and use the money to pay off customers it owed.
