Amigo Holdings PLC (LSE:AMGO) shares flopped 29% on Friday after the former lender updated on its winding down proceedings.
Chief executive and chief finance officer Kerry Penfold stated: "Initial Scheme payments are almost complete, and we have concluded the sale of the loan books.
“This means that we are nearing completion of the operational wind down of the business.
“I continue to be very proud of and grateful for the ongoing resilience of all our staff and their determination to support customers and each other through this process.”
Penfold added that Amigo is seeking a reverse takeover partner.
“If a reverse takeover were to go ahead, it would deliver some value to shareholders that would otherwise not be possible," he said.
The group held unrestricted cash of £22.5 million at the end of September.