Provisional liquidators appointed to Home Payments

Provisional liquidators have been appointed to Home Payments, the bill payment and savings company which ceased trading this week.

A hotline will go live on Monday morning for the business' 2,300 customers who are at risk of substantial losses as a result of the closure.

The family firm incorporated in 1963 aimed to make household budgeting easier for customers by spreading out their bill payments.

The company based in Rathmines, Dublin, ceased trading with immediate effect and today the High Court appointed joint provisional liquidators to Home Payments Ltd.

It heard while the firm has close to €2.5m in the bank, it does not have access to these funds at the moment.

It is insolvent and has insufficient means to satisfy all payments due to its 2,300 customers.

The majority are owed less than €3,000, but 24 customers are owed more than €10,000.