PPI costs push Shop Direct into the red

PPI costs push Shop Direct into the red

⚠️ With the PPI Deadline less than a year away, now would be the perfect time to check!

Shop Direct – which owns catalogue brands Littlewoods and Very – have announced a £48.3 million loss for 2018, caused by a massive surge in the money they have set aside to pay out successful PPI claims.

The firm say the Very website has done well in the last year, with sales rising by 10% to £1.4 billion, but it also announced the number of PPI claims has soared.

Claims deadline

As the PPI claims deadline of August 29th draws ever closer, Shop Direct has added another £169 million to its contingency fund – a 51% increase on the previous year.

PPI NEWS UPDATE – APRIL 2019

PPI NEWS UPDATE – APRIL 2019

More than 3.3 million new PPI complaints made in 2018

New figures released by the Financial Conduct Authority (FCA) show that, more than a decade after the first warnings were sounded about the PPI scandal, more than 3.3 million consumers made a new complaint in 2018.

More than 3.3 million new PPI complaints made in 2018

New figures released by the Financial Conduct Authority (FCA) show that, more than a decade after the first warnings were sounded about the PPI scandal, more than 3.3 million consumers made a new complaint in 2018.

TSB to refund online fraud victims

TSB has become the first British bank to commit to refunding any of its 5.2 million customers who fall victim to online fraud.

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