Club Direct Insurance has been placed into administration on an order of the High Court today.
Club Direct got into difficulties earlier this year with debts totaling £2m. Discussions with its major creditors proved inconclusive forcing the company into the hands of administrators.
The Court made the order on an application by the company's directors. Business recovery specialists, Buchanans plc, have been appointed.
Administrator Peter Whalley said: "Our over-riding objective will be to look for buyers for the Club Direct business as a going concern. Additionally, we shall be looking to sell the company's stakes in Mediquote and Trinity.
"There are a number of potential purchas-ers expressing interest all of whom are eager to move quickly. I am as confident as one can be in these circumstances, therefore, that a sale can be agreed shortly either to one of these par-ties or to anyone else who might come forward as a possible buyer."
