Wonga enters administration

Written by Adam Cadle

Wonga Group Limited and WDFC UK Limited (Wonga), have decided to place themselves into administration.

Insolvency Practitioners from Grant Thornton are in the process of being appointed as administrators to manage the firms’ businesses and affairs.

Grant Thornton plans to update customers once the firm is in administration.

The FCA will continue to supervise Wonga once it is in administration and is in close contact with the proposed administrators with regard to the fair treatment of customers.

Customers should continue to make any outstanding payments in the normal way. All existing agreements remain in place and will not be affected by the proposed administration. However, the firm is no longer able to issue new loans.

Customers can get free and impartial guidance from the Money Advice Service

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