Wirecard woes hit customers: UK arm could be put into administration

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Wirecard bosses are considering putting its British arm into administration


Wirecard woes hit customers as bosses consider putting British arm into administration

Wirecard bosses are considering putting its British arm into administration

Thousands of customers were still unable to access their cash yesterday due to restrictions placed on Wirecard as bosses considered putting its British arm into administration.

Customers of Morses Club were the latest found to be locked out of their payment accounts, joining those of fellow providers Pockit, Curve, FairFX and Anna Money.

Last week German payment giant Wirecard AG filed for insolvency after revealing a £1.7billion black hole in its finances.

The Financial Conduct Authority froze the operations of Wirecard Card Solutions, the UK subsidiary, last Friday.

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