Giant UK lender plunges into administration – £138m debt | UK | News

A leading UK bridging lender has gone into administration after the company’s director resigned.

Century Capital appointed administrators on January 30 and Paul Munford stepped down.

This follows a series of high-profile departures late last year.

According to reports, Century Capital had debts of £138 million by 2024.

The company was financed with funds including Natwest (£100 million) and £250 million from the US loan fund.

Century Capital had a turnover of around £29 million in 2024.

This comes as specialist lender Market Financial Solutions also went into administration this year.

Paresh Raja, founder of Market Financial Solutions, said: “This is an extremely difficult moment for everyone associated with Market Financial Solutions. As a family business built over nearly 20 years, this is not a decision taken lightly.”

The company added that although the business was operationally sound, the board concluded that placing the company into administration was “the most responsible way to preserve value, ensure stability and allow operations to continue under court supervision during this period.”

Mr Raja added: “The current situation does not reflect a failure in the core business or the quality of our assets, but rather a technical and procedural impasse that has temporarily limited our access to day-to-day banking facilities.” added Mr. Raja.

“My priority is always the people behind this business – our staff, our investors and our creditors. Entering administration allows the Company to be protected while we work openly and collaboratively with the Joint Administrators to find a way forward.”

“I am fully committed to preserving value and doing everything possible to support a positive outcome for all stakeholders.”