|
Less than a year ago Debt matters reported interim profits almost six times higher at £4.4m as demand for IVAs from distressed consumers continued to rise. Then in January Debt Free Direct, the market leader in personal insolvency, and Accuma sent a shock wave through the Aim IVA sector with warnings of slower-than-expected growth.
The most high-profile casualty was The Debt Advisor, formerly known as Compass Finance. Once a broking concern offering mortgages and loans to people who had trouble gaining credit, it moved into the IVA market through an acquisition last summer, only to call in the services of an insolvency practitioner in June.
On flotation two years ago shares in Debt matters were 65p. The popularity of the sector was reflected in the peak of 387½p reached by the shares last year before the rapid decline to yesterday's close of 18¼p. Share charts for other IVA specialists show a similar profile.
Source:
http://www.ft.com/cms/s/0/74582c1e-7081-11dc-a6d1-0000779fd2ac.html
|
