Cheval closes down
Cheval Bridging Finance is to close as its primary funding was withdrawn by Clydesdale Bank.
It is believed the firm is about to enter administration and we understand that staff received their redundancy papers last Friday.
Cheval Bridging Finance is an FSA-regulated lender and founding member of the Association of Short-Term Lenders.
Although there had been widespread speculation within the industry over the last few weeks, Cheval Bridging Finance refused to comment.