S&U plc announced on July 7 that it entered into a conditional agreement to sell its home credit business, Loansathome4u, for a total cash consideration of £82.5 million to Non-Standard Finance Plc. Completion of the deal is expected to, subject to shareholder approval, take place on Aug. 4, 2015.

On completion, Mike Thompson, managing director of SD Taylor, and Mike Mullins, managing director of home credit, will step down from the board and leave S & U. On completion, Non-Standard Finance will run Loansathome4u as a division, with former SFS managing director Mark Bardsley acting as the division's CEO.