UK advice business Multicorp Rose has been declared as failed by the Financial Services Compensation Scheme (FSCS).
The UK lifeboat service’s website said that Multicorp Rose has “failed, or is in special administration”.
Paul Barber and Gary Lee of Begbies Traynor were appointed as liquidators of the firm on 24 July 2019.
Then, it entered voluntary liquidation on 6 August, before submitting a declaration of solvency on 21 August 2019.
Companies House says that the firm is due to be dissolved on 14 October 2020.
Claims
The FSCS has said that investors may be eligible for compensation.
The UK lifeboat service told International Adviser: “We’ve received around 100 claims for compensation against the firm, almost all for unsuitable pension advice; those claims are underway.”
