'Subprime lender' Amigo to wind down operations in UK

Subprime lender entered Irish market in 2019 but paused lending here citing onset of pandemic

The pay-day loans provider charged borrowers up to 50% in interest.

Amigo Loans Ireland — the so-called pay-day loans provider that charges borrowers up to 50% in interest — will continue to collect payments on outstanding loans only, as Amigo Holdings in the UK has decided to close its doors for good. 

Shares in Amigo crashed 85% in London trade on Thursday after the subprime lender said it had halted new lending there and will wind down its operations over the next 12 months.