Tuesday, February 06, 2007
Yes Car's outstanding loans up for auction
DRESDNER Kleinwort is running an auction of the outstanding loans on Yes Car Credit.
Provident Financial closed Yes Car more than a year ago.
It is estimated that Provident is still owed around £100m by consumers who bought cars through Yes Car. It was closed after heavy losses.
The group is also auctioning off its motor insurance business. The insurance division, which specialises in providing cover to women and older drivers, is expected to fetch around £200m.
DATED: 06.02.07
FEED: AW
Provident Financial closed Yes Car more than a year ago.
It is estimated that Provident is still owed around £100m by consumers who bought cars through Yes Car. It was closed after heavy losses.
The group is also auctioning off its motor insurance business. The insurance division, which specialises in providing cover to women and older drivers, is expected to fetch around £200m.
DATED: 06.02.07
FEED: AW
