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Dollar Financial - £160 Million Loss

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Well it appears that Dollar financial is having a rough 2017 - £160 Million in losses

 

Dollar UK chief exits after lender posts £160m loss

 

The chief executive of one of the UK’s largest short-term lenders – Dollar UK – has left the firm amid rumours JP Morgan is circling to acquire the company.

 

Dollar UK’s most recent available financial results, filed in April 2017, show a pre-tax loss of £159.7m for the full year to June 30 2016, a rise of more than £55m on the previous year’s loss of around £104m.

 

The accounts also show that in December 2015, Dollar UK waived £130m of debt owed to the group by its subsidiary Instant Cash Loans. This was treated as an extra investment in Instant Cash Loans that was subsequently impaired by £62m.

 

 

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