Wonga chief admits brand might now be so toxic it has to change its name after company crashes to £37million loss
‘Controversial payday lender Wonga could change its name in a desperate attempt to regain credibility after a string of scandals caused the firm to lose £37.3million.
The firm has been hit by new rules on payday lending, as well as being forced to pay compensation to customers who were sent fake legal letters.
Wonga’s revenues fell by nearly £100million last year to a total of £217.2million, it was announced today – months after the company wrote off the debts of 300,000 customers.’
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