Английская Википедия:Amigo Holdings
Шаблон:EngvarB Шаблон:Use dmy dates Шаблон:Infobox company Amigo Holdings is a guarantor loans / subprime lender.[1] It is listed on the London Stock Exchange.
History
The company was established as a mid-cost[2] guarantor loans lender by James Benamor in 2005.[3] Benamor stood down as CEO, handing over the role to Glen Crawford, in 2015.[3] In June 2018 the company was the subject of an initial public offering on the London Stock Exchange which valued the company at £1.3 billion.[3]
The company announced in July 2020 that it would be providing at least £35 million in order to address consumer complaints regarding lack of checks on affordability when taking out a loan.[4]
Amigo Holdings trading as Amigo Loans was involved in a case in Redhill County Court on 14 September 2016, when a Miss Abbas successfully defended a claim of circa £5,000 by Amigo Holdings on the basis that she never received a copy of the loan agreement.[5]
On 1 June 2021, it was reported that Amigo faced possible bankruptcy after a High Court judge rejected an attempt by the company to cap payouts to customers. Gary Jennison, Chief Executive Officer of Amigo, commented: "Without a scheme, Amigo faces insolvency as it will be unable to satisfy its customer compensation claims as well as meeting the legally binding funding obligations owed to its secured creditors."[6]
Operations
The company is a business which issues mid-cost[7] loans with payments guaranteed by a borrower's family or friends.[8] The amount lent is up to £10,000, with a 49.9% APR, higher than loans from mainstream banks, but lower than high-cost products such as payday loans or rent-to-own.[9] The company has secured around 88% of the guarantor loan market in the UK.[10]
Ownership
Approximately 61.4% of the company was owned by Richmond Group, a business controlled by James Benamor, the founder.[11] Benamor sold his complete shareholding in June and July 2020 after failing to change the composition of the Board of Directors.[12]
References
External links
- Английская Википедия
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- Financial services companies of the United Kingdom
- Financial services companies established in 2005
- Companies based in Bournemouth
- Companies listed on the London Stock Exchange
- British companies established in 2005
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