Tenon in Bournemouth is acting as the administrator for the secured loan broker and confirmed there will be liabilities left behind.
Gemma King an administrator at Tenon, says: “Positive Lending Limited will be put into liquidation on January 5, but positive Lending UK will continue to trade.
“There are some creditors and the business was not making enough money to continue.”
Paul McGonigle, managing director of Positive Lending Limited refused to confirm or deny whether the firm was phoenixing.
More to follow..