Moneyextra.com sells up and surrenders to rival aggregators
Price comparison site Moneyextra.com has finally admitted defeat in its bid to compete with the UK's top four aggregators after the company was sold for £1.
As reported by Insurance Age online, debt management firm Fairpoint Group has bought the site for an initial consideration of £1, with a further £1m of working capital being made available in the current financial year to pay creditors and support growth.
But Fairpoint stated that on completion the directors expected the ultimate consideration, dependent on the future earnings of the business, would be about £8m, despite the fact that for the 19 months ending 31 September 2009, Moneyextra
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