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Positive Lending director rumoured to be rescuing business

Christopher Fairfax a director at Positive Lending is believed to be heading up Positive Lending UK following the administration of Positive Lending Limited.

Fairfax is registered as having applied for a consumer credit licence for the business on November 19.

While Paul McGonigle, managing director of Positive Lending Limited, is understood to be taking on a consultancy role at the mortgage and loan brokerage.

Jay Jones, managing director of ABC IT, is owed £2,700 by Positive Lending Limited and says he feels like it is a kick in the teeth.

He says: “We have supported Positive Lending for three years and we have been told by the administrators that we will not receive any money back.

“We helped it move offices and set up all its IT systems, if this is the way it treats is suppliers, I would like to see how it treats it customers.”

Administrators confirmed this morning that Positive Lending Limited will be put into liquidation on January 5 leaving behind a range of liabilities.

A spokeswoman from the Office of Fair Trading says there is not a problem with a firm closing down and another director taking on a consumer credit licence.

But she adds: “If there is anything that will interfere in granting a licence we will look at that.”

Positive Lending recently called in police to investigate after a mystery hoaxer claimed the firm had gone bust.

McGonigle declined to comment.

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