Indigo Michael Limited – administration

Indigo Michael Limited (trading as Tappily and SafetyNet), a Manchester-based high-cost lender which provides customers with running account credit facilities, entered administration 9 January. Joseph O’Connor, Clare Kennedy and Simon Appell of AlixPartners were appointed Joint Administrators. As a result of the administration, the firm is not accepting applications for loans from new customers. Existing active customers who currently have no arrears on their account will continue to have access to their existing facilities for a short period, but credit limits will be reduced in the coming weeks. Customers who have not used their running account credit facility within the 30 days before the Joint Administrators were appointed, or currently have arrears on their account, will not be able to access any further lending. Midtown Madison Management LLC and Account Technologies Holdings Limited each has a registered charge against the firm.