24th Mar 2020 10:29
(Alliance News) - Amigo Holdings PLC said Tuesday it has temporarily paused all new lending activity, aside from lending to key workers in exceptional circumstances, amid the ongoing uncertainty caused by the Covid-19 outbreak.
Employees at the subprime lender that have been freed up from the pause in lending activity will transition into other teams to increase the capacity of teams that talk to existing customers, particularly those that have a need for forbearance, due to changes in their financial situation.
Amigo also confirmed that it is continuing with the formal sale process and strategic review.
"Amigo is mindful that it has a requirement to maintain as normal a service as possible to existing customers, while also protecting the health of our employees. We have ensured as many of our employees as possible are working remotely from home, in accordance with the UK government advice," the group stated.
Shares in Amigo were up 0.5% at 13.38 pence on Tuesday in London.
By Dayo Laniyan; [email protected]
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