Orchard Funding (GB:ORCH) has released an update.
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Orchard Funding Group PLC reported that their largest customer, ‘Insure That,’ has entered into administration, affecting a significant portion of Orchard’s lending book valued at £16.7 million. The company is currently evaluating the potential impact on their ability to recover these funds. Additionally, Orchard’s Nominated Adviser and Broker has undergone a name change to Panmure Liberum Capital Limited due to a corporate merger.
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