Buy now, pay later company Laybuy placed into receivership in Australia and New Zealand

  • 📰 7NewsSydney
  • ⏱ Reading Time:
  • 24 sec. here
  • 9 min. at publisher
  • 📊 Quality Score:
  • News: 37%
  • Publisher: 63%

News News

Business,Business,Finance

7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.

Buy now, pay later service Laybuy has been thrust into turmoil after the Australian and New Zealand arms of the company were placed into Receivership on 17 June. Offering a zero-interest alternative to credit cards, Laybuy allows people to make purchases and pay back the sum over six weeks through automatic payments which remain interest free, as long as payments are made in time.

Glen Kanevsky and Jason Tracy of Deloitte Australia have also been appointed receivers over Laybuy Australia Pty Limited. “The UK based entities and certain other entities in the Laybuy Group are not in receivership,” Laybuy announced on its website. However, Laybuy said its services will remain unavailable until further notice. “There might be temporary interruptions to some systems, or we might need to go offline for a short period of time,” it said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in US

United States United States Latest News, United States United States Headlines