Oakham enters into administration

High-cost lender company, Oakham has been placed into administration.

The company trading as Oakam and Loal was placed loaned money to customers for between 6 to 36 months. All existing loan agreements remain in place, although the firm is no longer able to issue new loans.

Andrew Tate and James Hopkirk of Kreston Reeves LLP were appointed as joint administrators.

The joint administrators will provide updates to customers as soon as possible.