QuickQuid owner to take £58m hit as it leaves UK payday lending market

Industry News | 25/10/19

The US owner of Britain’s biggest payday lender QuickQuid has revealed it will take a one-off charge of £58m as it leaves the UK market. Sky News revealed on Thursday how Enova’s subsidiary, CashEuroNet UK, had lined up Grant Thornton as administrator for the under-fire UK business – which also counts One Stride Financial in its stable of consumer-facing lending brands.The payday lending sector has been shrinking substantially amid a regulatory crackdown which capped charges and introduced strict affordability checks.

Source: Sky News