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Britain's biggest-remaining payday lender is on the verge of collapse, accelerating the demise of consumer finance providers in the wake of a regulatory crackdown. Sky News has learnt that CashEuroNet UK, which trades under the QuickQuid brand, could be placed into administration within a matter of days. If confirmed, the move would come little more than a year after Wonga - at the time the UK's biggest short-term lender - was plunged into insolvency amid a deluge of customer compensation claims. Grant Thornton, which is handling the administration of Wonga, is understood to have been lined up to undertake the same role at CashEuroNet UK if the parent company's board decides to pursue an insolvency process. An accountancy profession insider said that Grant Thornton had been lined up following a competitive tender process.
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