1st Oct 2026 12:15
(Alliance News) - Fiinu PLC on Thursday said its subsidiary Everfex PSA has applied for protective restructuring proceedings with the competent Polish court.
The application follows the emergence of disputed historic loans dating back to 2021, before Fiinu acquired Everfex in August 2025.
Shares in the Weybridge, Surrey-based financial technology provider fell 14% to 3.00 pence in morning trading in London.
Fiinu said an independent court-appointed supervisor will oversee the restructuring process, including verifying and handling creditor claims, while Everfex management will continue to run the business.
Everfex also filed for bankruptcy to "comply with the statutory obligations of its management board", but Fiinu stressed that the restructuring application will be considered first. It said no bankruptcy order has been made and Everfex continues to operate.
Earlier this month, Fiinu said it had received petitions from two creditors seeking Everfex's bankruptcy. Fiinu disputed claims that Everfex's financial difficulties resulted from its unwillingness to provide further funds to repay old shareholder loans, and said it was investigating the extent of the creditors' knowledge of Everfex's financial condition before its acquisition.
On Thursday, Fiinu said the previously reported GBP7.3 million goodwill impairment relating to Everfex remains unchanged, with no additional impairment expected as a result of the new filings.
By Camilla Borri, Alliance News reporter
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