Mr Stephen Katz and Mr Paul Appleton, Licensed Insolvency Practitioners from David Rubin & Partners, have been appointed as joint administrators, to manage the firms’ business and affairs.
The companies provide debt management services to the UK consumer market. Following the appointment of administrators the firms will not be taking on any new customers. The administrators will conduct an orderly wind down of the business and sale of the assets and start the process of identifying all creditors, in accordance with their statutory obligations. The administrators will continue to work closely with the Financial Conduct Authority (FCA) as the administration process progresses, supporting customers where possible during this period.
The administrators will write to the customers of both firms directly to notify them of their appointment and to provide information as to what happens next. If customers have any questions in the meantime about their debt management plans they should contact the administrators using the contact details below:
Pentagon (UK) Limited customers: 0800 804 6969 (within opening hours) or visit the website.
Atlantic Finance (UK) Limited customers: 0845 030 3030 (within opening hours) or visit the website.
Customers can also get free and impartial guidance from the Money Advice Service by calling 0800 138 7777 or by visiting the website.
The FCA will continue to supervise Pentagon (UK) Limited and Atlantic Finance (UK) Limited and we are working with the administrators to ensure that customers are treated fairly. This page will be updated in the coming days with more information on what customers should do in respect of making payments into their debt management plans.
Subscribe to The Financial Analyst to get original opinion and all the latest news on trending financial topics and breaking stories related to analysis and global markets. If you have a tip or a financial opinion to share get in touch to submit your story.