York-based firm looks to restructure creditors and secure new equity funding

Credit card

Credit card and ID theft insurer CPP is seeking a buyer or a £9m injection of new equity from interested investors.

The York-based firm has suffered a torrid few years since being fined by the FCA for mis-selling.

CPP was hit with a £10.5m fine in November 2012 after giving customers unclear or misleading information that led them to buy products they didn’t need.

If CPP raises new equity, an agreement can be reached with the creditors. Also, with new equity, CPP will transfer from the London Stock Exchange to AIM.