Bids Due: 21 November 2017, 4:00pm GMT
Featured Items to be added soon.
Anthony Collier and Thomas MacLennan of FRP Advisory and Joint Administrators of Cheque Centres Limited (in Administration) (the “Company” or “Cheque Centres”) have appointed Hilco Valuation Services to actively seek interested parties with regards to the sale of certain IP of Cheque Centres Limited a leader in the payday lending sector.
The Cheque Centre brand has traded since 2007 and was a leader in the payday lending sector before it withdrew from the market in 2014/15 following regulatory reform. The firm once had more than 400 high street branches trading the Cheque Centres brand. As well as pay day lending the Company offered services in relation to: Travel Money, Cheque Cashing, Gold Purchasing, Pawnbroking and Worldwide Money Transfer.
4 Year Financial Overview
Cheque Centres 4 Year Financial Overview:
Year to 31 December 2016 revenues of £137m (Draft)
Year to 31 December 2015 revenues of £163m (Statutory)
Year to 31 December 2014 revenues of £274m (Statutory)
Year to 31 December 2013 revenues of £359m (Statutory)
- Goodwill rights in the Cheque Centre brand and reputation through 10 years of trading on the UK high street
- Branded domain name - www.chequecentre.co.uk which currently is understood to receive in the order of 12,500 monthly users (organic traffic rather than paid for). The number of visitors to the site has historically been higher at between 25,000-30,000 monthly users earlier in 2017.
- The Company owns one EU registered trade mark (EU005916622). Registered 18 May 2007, protecting the Cheque Centres brand and corporate logo in Class 36 (reproduced below):
- Class 36 - Financial and insurance services; loan services, financial lending services, financing services; cheque cashing services; foreign currency services, currency exchange services; share dealing services, share cashing services, share brokerage services; credit card and debit card services; electronic funds transfer, money transfer services; bill payment services; information, advisory and consultancy services relating to all the aforegoing.
Diligence & Sale Process
Hilco Valuation Services is currently soliciting interest in the assets from qualified buyers.
Bid Submission: Bids to be provided in writing by the Bid Deadline.
For further information and to request an NDA, please contact: Nat Baldwin, Hilco Valuation Services
Terms & Conditions
The buyer understands that Hilco Valuation Services act as agent for the Joint Administrator who offer for sale only what right title and interest Cheque Centres Limited (in Administration) possess in the assets. The information provided has not been verified and buyers are deemed to have carried out their own due diligence of the assets. A deposit of 30% will be payable by the buyer within 48 hours of bid acceptance. VAT at 20% will be added to the price. Legal completion to occur within 5 business days of bid acceptance. Full Terms and Conditions apply