- Guarantor loans provider Amigo said it was mulling range of options for the company including a revised scheme of arrangement or insolvency.

The company continued to talks with the UK financial Conduct Authority to find a way forward after the its scheme of arrangement, which would enable it to make payouts on customer complaints and allow it to return to lending, was rejected in late-May.

Wihout an appropriate scheme of arrangement to deal with the complaints, the value of Amigo's assets are less than the amount of its liabilities, resulting in an insolvent balance sheet, the company said.

Amigo currently anticipates its financial results for the year ended 31 March 2021 will be issued on 22 July 2021.

Story provided by