Today, shares are rising by 2%, but during the last week shares of AMGO.L were demonstrating uncertain movement, price per share was fluctuating between the highest mark of 9.10 GBP and the lowest mark of 8.22 GBP, eventually, it leveled at 8.70 Gbp, showing 1.14% drop. From the beginning of the year, shares started with 8.30 GBP and in April they had take-off to almost 30 GBP, however in May price per share was diminished again to 8 GBP. Amigo announced, in June, that it had acquired three months of breathing space from its lender as it tries to avoid bankruptcy. The guarantor lender announced that the grace period, which was supposed to expire today, has been extended until September 24. However, it has been reduced from £250 million to £100 million. Amigo has been under fire since a rash of consumer mis-selling accusations threatened to bring the company down. The initial extension from July to December was supposed to give Amigo time to handle the impact of Covid. It was later extended to today before the company decided it needed yet another extension. Amigo said it was considering its alternatives, including a fresh rescue plan or bankruptcy.
Finance and Entertainment Reporter
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