Knoma Limited - Administration

Knoma Limited, an FCA registered entity which provided interest-free loans to consumers for educational purposes, entered administration on 8 July.

The company cites increasingly challenging market conditions, with the rise in inflation and living costs impacting customers repaying, an inability to secure the necessary working capital to sustain operations, and a lack of any available buyer as contributing to its financial difficulties.

Knoma has ceased issuing new loans and joint administrators Adam Stephens and Martyn Ewing of Evelyn Partners are now working to collect in the outstanding loan book balance of c.£1 million, retaining key employees to assist with this process.

Fasanara Investments S.A., Sicav-Raif-Global Diversified Alternative Debt Fund and Tvc Momentum Fund I LP have a registered charge against the company.