Morses Club acquires fellow home-collected credit lender Hays Credit
Source - SMW
Home-collected credit lender Morses Club said it had acquired rival Hays Credit, for an undisclosed sum.
Hays, which provided loans to around 2,700 customers across the North East of England, had outstanding balances of around £1.6m, Morses Club said.
'Hays is a high-quality business and further expands our offering for clients in the North East,' chief executive Paul Smith said.
'Home-collected credit is the fundamental core of our business and our recent acquisitions demonstrate our commitment to both continuing to grow our home-collected credit capabilities, as well as diversifying our broader online product offering.'