Is Morses Club Closing Down?

is morses club closing down

In the world of door-to-door lending, few names are as well-known or as established as Morses Club. The company has been a household name for over a century, but recent developments have prompted questions, the most pressing among them being, “Is Morses Club closing down?” This blog post will explore the current situation of Morses Club and provides a comprehensive answer to the question.

About Morses Club

Morses Club is a UK-based consumer finance company, specializing in home collected credit (HCC). The company has a rich history dating back to 1880, making it one of the oldest and most established lenders in the industry. Over the years, Morses Club has built a reputation for delivering high-quality customer service and flexible credit solutions to over 200,000 customers across the UK.

The company offers small, unsecured cash loans, typically ranging from £100 to £1000. Its business model involves agents visiting customers at home to collect repayments, allowing for a personal touch and a strong rapport with its customer base.

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Is Morses Club Closing Down?

No, Morses club is not closing down permanently, but it entered administration on November 17th, 2023. This means it’s now under the control of appointed officials who are responsible for managing Morses Club’s assets and repaying creditors. As a consequence of this administration:

  • Morses Club can no longer offer new loans.
  • Existing loan agreements remain valid, requiring customers to continue making repayments according to their original terms.
  • Unfortunately, the “Scheme of Arrangement” designed to address past claims of unaffordable lending has been terminated. The future of Morses Club remains uncertain, with possibilities ranging from a potential sale to the liquidation of its assets.

Why Is Morses Club Closing Down?

While the news headlines might make it seem like Morses Club is simply closing down, the situation is a bit more complex. Morses Club actually entered administration on November 17th, 2023. This means the company isn’t necessarily closing down permanently, but rather going through a significant financial restructuring process.

Here’s the breakdown:

Administration: Under this process, the company is no longer under its own management but is overseen by appointed administrators. These administrators are responsible for managing the company’s assets, repaying creditors, and exploring potential options for the future, which could include revival, sale, or even liquidation.
Reasons for entering administration are usually financial difficulties, and in Morses Club’s case, the main contributing factor was the high cost of dealing with past claims of unaffordable lending. The company also struggled with high customer complaint rates regarding affordability issues with their loans.

So, while Morses Club isn’t necessarily closing down definitively, it’s undergoing a significant change in its operations due to financial difficulties. 

Morses Club Closure Impact On Customers

It is very sad news for customers who are seeking loan from Morses Club because they have terminated this, new customer can’t get loan . This means new loans are no longer offered, existing loans require continued repayments as per agreements, and the “Scheme of Arrangement” for past unaffordable lending claims is terminated.

Existing customers facing repayment difficulties are advised to contact Morses Club directly, while those seeking new loans or with past claims should explore alternative options and potentially seek independent financial or legal guidance. The company’s future remains uncertain, so staying informed through official channels is crucial.

 How Can Customers Of Morses Club Make A Claim?

If Morses Club closes down, customers who believe they have been treated unfairly or want to make a claim should follow these steps:

Gather Documentation: Collect all relevant documents related to your loan, such as agreements, payment records, and any correspondence with Morses Club.

Contact Morses Club: If the company is still operational, try reaching out to their customer support to discuss your concerns and see if a resolution can be reached.

File A Complaint With The Financial Ombudsman Service (Fos): If Morses Club is unresponsive or you are not satisfied with their response, you can escalate your complaint to the FOS. The FOS is an independent body that helps resolve disputes between customers and financial companies.

Seek Professional Advice: If you are unsure about your rights or need assistance with your claim, consider seeking legal advice or contacting a debt advice service.

Why Has Morses Club Gone Into Administration?

The primary culprit behind this move was likely financial difficulties stemming from two key factors: firstly, the high cost of dealing with past claims of unaffordable lending, where past lending practices were deemed unsuitable for certain customers, resulting in settlements and compensation. Secondly, high customer complaint rates regarding the affordability of their loan products further impacted their financial stability.

Therefore, while not definitively shut down, Morses Club is undergoing a critical operational shift due to financial difficulties. The company’s future remains uncertain, with possibilities ranging from revival to sale or even liquidation.

What Actions Can Customers Take If Morses Club Closed?

If Morses Club is indeed closing down, customers might be left wondering about their next steps. Here are a few actions that customers can consider:

Firstly, customers should refrain from panic. Even if Morses Club closes down, it doesn’t mean that all financial options are off the table. There are numerous other lenders who could step in to fill this void.

Secondly, customers should seek financial advice. This could be from a financial advisor, a debt charity, or even the Citizens Advice Bureau. These organizations are equipped to provide guidance on how to navigate such situations.

Lastly, customers should stay informed. Keeping up-to-date with the latest developments can help customers prepare and make informed decisions.


The entry of Morses Club into administration indicates a significant change in its functioning, however, it does not mean a permanent closure. The company’s difficulties, which stem from past issues of unsustainable lending practices and a high rate of customer complaints, highlight the complexities present in the consumer finance sector. Current clients are urged to fulfill their repayment obligations, and individuals seeking assistance should consider reaching out directly to Morses Club or seeking help from regulators like the Financial Ombudsman Service. While there is uncertainty surrounding the future of Morses Club, taking proactive steps and making well-informed decisions can help minimize the potential impact on customers and navigate through this transitional phase.


Do I Still Need To Repay My Existing Morses Club Loan?

Yes, existing loan agreements remain valid. You must continue making repayments as per your original agreement.

What Happens If I Can’t Make My Loan Repayments?

It’s crucial to contact Morses Club as soon as possible to discuss your situation and explore potential options. They may be able to offer support or direct you to relevant resources.

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