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Travelex owner Finablr warns of ‘potential insolvency appointment’

Short announcement comes after a rapid fall from grace for the payments and foreign exchange group

Finablr, the owner of Travelex, warned investors it is engaged in “rapid contingency planning for a potential insolvency appointment”, a day after suspending its shares and accepting the resignation of its chief executive.

In a market statement on 17 March, the Dubai-based and FTSE-listed company said that “with respect to Finablr’s present liquidity situation and ongoing discussions with its lending banks, the board... has engaged an accounting firm to undertake rapid contingency planning for a potential insolvency appointment with a view to maximising value in the group”.

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