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Technology firm Pisces Group has placed itself in voluntary administration but has emphasised its mortgage business remains strong.
Jega Rajan, CEO of Pisces Group, told Mortgage Business today the move was part of a balance sheet restructuring which will not impact its broker customers.
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“Our mortgage businesses Pisces Communications and Mortgage Data Solutions, are not affected by the restructuring. They are operating as per normal,” he said.
Pisces’ mortgage businesses provide solutions including electronic mortgage sales and distribution solutions.
Mr Rajan said Pisces was in the process of advising customers about the decision to place itself into voluntary administration.
Mr Rajan said the restructuring would place Pisces in a stronger position moving forward.
“I am supremely confident that everything will be fine, if not stronger,” he said.
