Luxury asset-backed lender Eldens Finance has entered administration after agreeing restrictions on its regulated activities with the Financial Conduct Authority (FCA) last month.
The FCA confirmed that Antony Batty and Hugh Jesseman of Antony Batty & Company were appointed joint administrators on 6 July and are now responsible for winding down the business in the interests of creditors.
Eldens specialised in pawnbroking loans secured against high-value and luxury assets.
Prior to entering administration, the firm agreed a voluntary requirement with the FCA on 19 June restricting its ability to dispose of assets and undertake regulated activities.
The regulator said it is working with the joint administrators to support customers who have pledged assets held as security for loans.
Customers who believe they have a claim against Eldens, or who have questions regarding outstanding loans or pledged items, have been advised to contact the joint administrators directly.
The FCA also warned customers to remain vigilant against potential scams, urging anyone receiving unexpected calls claiming to be from Eldens, the administrators or the regulator to end the call and make contact using official channels.
While Eldens operated within the specialist secured lending market rather than mainstream property finance, the administration highlights continued pressures facing niche lenders as regulators maintain close oversight of firms handling secured assets.
