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 directly address reports that all, or part, of the company has entered administration, however Open Money has confirmed to Prolific North seperately that TopCo OML has indeed entered a CVA.
The companys former owners, Anthony Morrow and Money Supermarket co-fouder Dun…
Read the full article at: https://www.prolificnorth.co.uk/news/tech-news/2023/05/open-money-issues-statement-restructuring-process