Bridging
Amicus staff under redundancy consultation
Staff at short-term lender Amicus Property Finance are under redundancy consultation.
The move follows news earlier this month that the business had to halt lending after a deal for further investment could not be agreed.
On Friday the Association of Short Term Lenders (ASTL) trade body was also forced to suspend Amicus’ membership.
A statement from Amicus to Specialist Lending Solutions said: “Amicus has confirmed a collective consultation has begun and there is an expectation of a significant number of redundancies.
“Staff who choose to remain after the consultation will be responsible for managing the existing loan book.”
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It is understood the board of Amicus Finance plc is taking advice on the next steps available to it.
It is not known at the time of publication how this affects the other group businesses, however, for now Amicus has advised it is “business as usual”.