Asda credit card firm warns of ‘material uncertainty’ over going concern status

Asda credit card company says 'material uncertainty' over future

The firm behind the Asda credit card more than doubled its impairment charges last year

Jaja Finance Warns of ‘Material Uncertainty’ Amidst Rising Losses

Jaja Finance, the fintech behind the Asda credit card, has sent shockwaves through the investment community with its warning of “material uncertainty” over its ability to continue as a going concern. The firm, co-owned by billionaire Mohsin Issa and private equity firm TDR Capital, has reported widening losses and is in the midst of a debt restructuring that has yet to be finalized. Source

Asda credit card firm warns of ‘material uncertainty’ over going concern status

The firm behind the Asda credit card has warned of “material uncertainty” over its ability to continue as a going concern after reporting widening losses, City AM can reveal. Jaja Finance, a fintech co-owned by billionaire Mohsin Issa and private equity firm TDR Capital, said it had “substantially advanced” but not yet completed a new debt restructuring, creating uncertainty which “cast significant doubt on the group’s ability to continue as a g…