An email from debtDr chief executive Jeremy Hockley, sent at 4.55pm on April 21, said the company will no longer operate with immediate effect and that Hockley expressed regrets this was happening.
Hockley said in the email that he has informed Trading Standards and would be co-operating fully with them and the Office of Fair Trading in their investigations. Insolvencynews was unable to reach Hockley for comment.
Insolvencynews understands that a consultant, who wished to remain anonymous, was brought in about two months ago to help with a possible rescue plan for the business. No formal rescue plan was formulated.
This website has spoken to several debtDr employees, all of whom were uncertain about the status of the company.
DebtDr began trading in 2005 and had almost 50 employees working across England and Wales.
Its advisors were trying to help some of the most financially vulnerable people and had no involvement over how the company was managed.
Hockley’s email from April 21 said: “This clearly is a very difficult time for everyone, especially our clients, and it is a day which I had never thought I would see.”
It added: “For the majority of you who have given me your support, I thank you dearly. For a few, who have been undermining our attempts to secure a rescue package, you will never know how close we were and how seriously your actions scuppered this.”