Car finance parent company nearing sale

Fri, 24 Jul 2009



According to vehicle finance news today, the owner of Welcome Car Finance may have found a buyer for its invoice finance arm . Welcome Car Finance has been closed down by parent company Cattles, but the Welcome Finance consumer loans arm is very much for sale. A preferred bidder has been found and advanced negotiations are reportedly underway.

Cattles are thought to be labouring under huge debts of £2.4 billion, following being slammed for accounting irregularities. The company used a statement saying: "Cattles notes the speculation today regarding its possible disposal of Cattles Invoice Finance. Cattles confirms that it is in advanced negotiations with a preferred purchaser."

The Welcome Car Finance car loans company has been closed down to save cash and improve liquidity in the business. However, the Welcome Finance business is still in operation.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

 

Advice section: Pros & Cons | Finance Tips | Running Costs | Payment Options
Car finance partners

Halifax Loans