Provident Financial expects £120m loss at doorstep lending arm

Firm, which specialises in lending to people in financial difficulty, lost customers after botched restructureDoorstep lender Provident Financial expects to post a £120m loss at its consumer credit business after struggling to win back customers following a botched reorganisation of the 130-year-old business last year.
The company, which specialises in lending to people in financial difficulty, blamed a “lower than expected rate of reconnection” in the fourth quarter. Continue