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Consumer hotline set up for failed forex firm

The administrator of failed currency firm Crown Currency Exchange has set up a dedicated call centre number to deal with inquiries from the general public.


In a statement released today MCR said “people’s patience was wearing thin with CCE” which went out of business at the weekend after advising its bank Barclays that it was insolvent.


MCR said the firm had its bank accounts frozen on Wednesday last week after the owner, Peter Benstead, had a meeting with Barclays.


The statement said: “Mr Benstead advised Barclays that CCE was insolvent. Shortly after this meeting Barclays froze the company’s bank accounts with a £2 million credit balance in order to protect consumers. 


“Peter Benstead then sought the advice of MCR and SPW who were subsequently appointed joint administrators.”


The administrators have received more than 5,000 emails and 2,000 phone enquiries about the collapse. CCE’s staff in its Cornwall head office are also said to have fielded a huge number of enquiries. 


Paul Clark, of MCR, said: “This is a very challenging situation that we are having to unravel.  We are working hard to resolve the problems faced by the customers of CCE.


“Understandably people’s patience is wearing thin with CCE and the position that they find themselves in. In view of this we have set up a dedicated call centre.”


The call centre number is 0844 826 8659

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