Financial Conduct Authority
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Wonga enters administration

Update on the 31 August: Wonga Group Limited and WDFC UK Limited (Wonga), have now both been placed into administration. Insolvency Practitioners from Grant Thornton have been appointed as administrators to manage the firms’ business and affairs.

Grant Thornton plan to update customers once the firm is in administration. If customers have any questions in the meantime about their loan they should contact Wonga on 0207 138 8330 (within opening hours) or visit the website(link is external).

The FCA will continue to supervise Wonga once it is in administration and is in close contact with the proposed administrators with regard to the fair treatment of customers.

Customers should continue to make any outstanding payments in the normal way. All existing agreements remain in place and will not be affected by the proposed administration. However, the firm is no longer able to issue new loans.

Customers can get free and impartial guidance from the Money Advice Service(link is external).

Notes to editors

  1. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this, it has three operational objectives: to secure an appropriate degree of protection for consumers; to protect and enhance the integrity of the UK financial system; and to promote effective competition in the interests of consumers.
  2. Find out more information about the FCA.
Channel website: https://www.fca.org.uk/

Original article link: https://www.fca.org.uk/news/press-releases/wonga-enters-administration

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