Dear Employee,

Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP were appointed Joint Special Administrators of LCC Trans-Sending Ltd on 18 June 2024 (‘the Joint Special Administrators’) (‘the Company’). The affairs, business and property of the Company are being managed by the Joint Special Administrators.

Further to the Suspension of Services Notice on 10 June 2024, Small World UK and its associated Group businesses have ceased receiving or processing new money transfer transactions through its agents, branches, websites and mobile applications.

If you are unsure what this means for you, please contact the People Team on the regular email address.

A summary of your rights is published by the government at www.gov.uk/your-rights-if-your-employer-is-insolvent   

The Joint Special Administrators

For and on behalf of the Joint Administrators of Small World Group Financial Services Limited (in Administration) and LCC Trans-Sending Limited (in Special Administration) without personal liability.

The affairs, business and property of Small World Group Financial Services Limited (Small World Group) and LCC Trans-Sending Limited (LCC UK) are being managed by Chris Laverty, Russell Simpson and Jarred Erceg appointed as Joint Administrators and Joint Special Administrators (respectively, and together ‘the Administrators’) on 18 June 2024.

The Administrators act as agents of Small World Group and Small World UK without personal liability. Chris Laverty, Russell Simpson and Jarred Erceg are authorised by the IPA to act as insolvency practitioners. Small World Group and LCC UK are registered in England and Wales, registered Numbers: 05405279 and 04363859, respectively, registered office address: c/o Grant Thornton UK LLP, 11th Floor, Landmark, St Peter's Square, 1 Oxford St, Manchester, M1 4PB

Please see below Frequently Asked Questions (FAQs) to assist answering common inquiries.

An administration is an insolvency procedure regulated by the Insolvency Act 1986. The administrator’s role is to realise the assets for the benefit of creditors.  The administrator will provide regular updates to creditors. Any persons or companies who believe they are a creditor of a company in administration should send their claims to the administrator.

The Payment and Electronic Money Institution Insolvency Regulations 2021 introduced a special administration regime for payment and e-money institutions. A special administration is similar to an ordinary administration, however, the special administrators have an additional objective to return customer funds as soon as possible

Following the special administration order, the Special Administrators are responsible for Small World UK, noting the firm continues to be FCA authorised. The Special Administrators are officers of the Court and need to comply with all insolvency law. The individuals appointed are authorised to act as licensed insolvency practitioners. The Special Administrators have statutory objectives which include engaging with authorities, including the FCA.

On 18 June 2024, Chris Laverty, Russell Simpson and Jarred Erceg of Grant Thornton UK LLP were appointed as Joint Administrators’ of Small World Financial Services Group Limited (SWFSG) and Special Administrators of LCC Trans-Sending Limited (LCC UK) (together, the Companies).

The affairs, business and property of the Companies are being managed by the Joint Administrators / Joint Special Administrators. Their initial actions are to secure the assets of the Companies and identify amounts owed to LCC UK’s customers and creditors with a view of returning amounts owed to LCC UK’s customers as soon as possible. This will require securing all books and records and undertaking a reconciliation of amounts owed to LCC UK’s customers

No, LCC UK and its associated Group businesses ceased receiving or processing new money transfer transactions through any of its agents, branches, websites and mobile applications on 10 June 2024.  LCC UK is now in wind down

Please contact SmallWorldUK@uk.gt.com

If you have a specific question relating to your statutory entitlements; we have engaged an external consultant, Evolve IS Limited at Hello@evolveis.uk

All current and former employees can continue to update their details in the usual manner. Should you have any other questions, please contact the People Team on the regular email address.

To provide further detailed information, Frequently Asked Questions (‘FAQs’) have been uploaded to the Small World website relating to outbound communications.  These can be accessed at www.smallworldfs.com.

We are focused on giving customers additional information and estimated timelines for the return of amounts owed at the earliest opportunity. Please check your emails and FAQs on the Small World website for updates.

Should you have any queries, please visit the FAQs in the first instance. Alternatively, please contact the Small World Customer Service team by 020 3198 0387 or at support@smallworldfs.com.