Buyers show marginal interest in Elephant Home Loans

Begbies Traynor, the rescue and recovery specialist handling the liquidation of Elephant Home Loans says it has received marginal interest in the firm so far and urges any interested parties to step forward before 16 May.

The Firm also confirmed that 16 staff had been made redundant, all of which were owed money.

Begbies Traynor will be holding a meeting of creditors on 16 May, where it will discuss Elephant Home Loans debts, which it says are in excess of £300,000.

Peter Blair, partner at Begbies Traynor says that employees will be able to claim some money back Employment Rights Act 1996.

He adds: “Employees may be able to claim unpaid wages, holiday pay and redundancy. We will hold the meeting of creditors, and we see if we can sell the few assets that it has, the business revolves around the name and its telephone numbers. We’ve had marginal interest from on party. The more people we have showing interest before the meeting of the creditors the more we can ask creditors for their opinion, so we can consider our best course of action.”