KPMG has been appointed administrator of failed online spread betting firm Alpari, sponsors of East London football club West Ham United.
The spread betting firm closed its operations this week, after it was severely hit by the Swiss Central Bank scrapping its franc’s peg to the euro currency. The decision by the Swiss Central Bank created volatile trading conditions, which left Alpari exposed to huge loses.
KPMG stated that Alpari client funds which were in the region of £66 million would be returned to customers.
The accounting and financial advisory firm further stated that it had received offers from interested parties with regards to acquiring parts of the Alpari business.
The Wall Street Journal (WSJ) reported on Monday that Australian foreign exchange firm, Pepperstone were interested in acquiring Alpari business services. The company’s interest was confirmed by Co-Founder Owen Kerr who told WSJ “Alpari is something we are looking very strongly at”.
IG Index and ETX Capital are also reportedly interested in Alpari, although there has been no confirmation.