Amigo - comment

The appointment of administrators to yet another competitor in the guarantor loan space underlines the challenges in the sector. There is no direct impact on Amigo. We have not seen anything to indicate the FCA pushed for this outcome. TFS is smaller than Amigo but has also been absent from lending (since March 20) after being increasingly hit with claims around unaffordable lending. The 2020 accounts published in December 21 said a debt restructuring was being put together. TFS joins Buddy Loans (another small guarantor lender) in administration.