Wonga: payday lenders stop offering new loans
Wonga has stopped taking new loan applications as lender lenders pay in the fall.
The news came a few days after it emerged that the company had delegated Grant Thornton to act as administrator if the lending board decided that they could not be saved.
The statement on the site was read: "Although he continued to evaluate his choices, Wonga had decided to stop using the loan application.
On Wednesday, Wonga held an emergency discussion with the Financial Advisory Authority (FCA) about the impact of its collapse on existing customers.
It is estimated that the company will make an announcement later on Thursday about its future.
Investors at Wonga include Balderton Capital, Accel Partners and 83 North.
At the weekend, Wonga said he was "considering all options", just weeks after shareholders were pumped in £ 10 million in an effort to save him from the fall.
Earlier this month, lenders said their struggle was due to a "significant" increase in industry among people making claims related to historic loans.
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It blamed the claims management company for the increase, but said it was making progress on the transformation plan designated for business.
On Sunday, Wonga said the number of complaints related to British loans taken before 2014 was "accelerated".
"Against the backdrop of this claim, the Wonga board continues to evaluate all options regarding the future of the group and all entities," the company said at the time.
Wonga has been criticized for the high interest he has put on his loan and is accused of targeting vulnerable people.
In 2014, the company introduced a new management team and wrote about 220 million pounds worth 330,000 customers after receiving loans to people who were unable to repay them.
In the same year, the FCA said it would bring a rigorous check check to the industry and introduce a limit on salary loan costs on the amount borrowed every day.
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