He ran Buy 2 Let Cars Limited which billed itself as a lucrative alternative to the low interest rates offered by banks. Cash put in by savers would be used to buy cars that would be leased to people with poor credit histories. The marketing material made a meal of how Buy 2 Let Cars helped key workers. I asked because the latest accounts showed that Buy 2 Let Cars owed creditors £34million, parent company Raedex was £10.9m in the red, and sister company Rent 2 Let Cars was £9.5m in debt. This week Raedex, Buy 2 Let Cars and Rent 2 Own Cars Limited were placed into ­administration.

Source: Daily Mirror March 18, 2021 07:46 UTC