Deloitte has appointed Robin Allen, Carlton Siddle and Nick Edwards as joint administrators of the business and property of In Retirement Holdings Limited, In Retirement Services Reversions Limited and Equity Release Limited.
In Retirement was backed by 3i, a European private equity firm.
Deloitte says the insolvency within the group should cause no concern to customers of the group in respect of the ownership of their home. Customers should call their usual point of contact within the group in respect of queries in relation to their policy.
Allen says: “Unfortunately, it has not been possible to secure funding to enable the group to remain outside of an insolvency process. We are currently working with management to determine the best strategy for maximising value for the group’s stakeholders and preserving the continuity of services to its 14,000 customers.”