Manchester-based fintech Open Money has issued an official statement following reports over the bank holiday weekend that staff wages would be going unpaid as the company enters a CVA and undergoes large scale restructuring under its new owners.
The statement confirms that payment of salaries for a number of members of staff across the business has been delayed pending legal and professional advice, and adds that an unspecified number of redundancies are likely. It does not confirm whether all, or part, of the company has entered administration, and Prolific North has requested clarification on this point.
The companys former owners, Anthony Morrow and Money Supermarket co-fouder Duncan Cameron, whose withdrawal of funds in March was rep…
Read the full article at: https://www.prolificnorth.co.uk/news/tech-news/2023/05/latest-open-money-issues-statement-restructuring-process