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The Finance Company PLC
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Founded in 1940, The Finance Company PLC was a pioneering finance company in Sri Lanka. For decades, it was a major player in the country's financial services sector, offering services such as fixed deposits, savings accounts, leasing, and hire purchase facilities. The company faced severe financial distress and liquidity issues, exacerbated by the collapse of its parent company's other ventures. Despite several restructuring attempts, it failed to recover, leading the Central Bank of Sri Lanka to cancel its business license in May 2020 and initiate liquidation proceedings to settle its obligations to depositors.
Sri Lanka
Industry
Financial