Financial services business People To People Group Limited has entered administration, with staff left unpaid.
The Blackburn-based firm owns financial services companies Quickdox, Wise Appointments, Wise Review, Precision Claims, Your Money Back and Credit Agreement.
The businesses specialise in financial reviews, PPI claims and other types of mis-selling claims for the public.
P2P had issued a notice through the High Court in March, warning that the company could become ‘unable to pay its debts’ which was reported in the Lancashire Telegraph’s website on Sunday 6 April.
The Lancashire Telegraph also reported that some employees said they were unhappy with the way the company – run by chief executive Mark Butterwick – had handled the situation.
It was confirmed on Friday 4 April that the firm, which employs over 100 staff, had entered administration. Andrew Rosler of Bolton-based Ideal Corporate Solutions Ltd is managing the firm’s affairs and said the various businesses were in the process of being sold.
“We are in the process of selling the businesses so that they can be preserved and jobs can be saved,” said Rosler. “We will announce details of the purchasers shortly,” he added.
Ideal Corporate Solutions Ltd said some of the staff would be employed by the new owner and those who are made redundant could claim back some of their owed pay through the government insolvency service.