The payday loan company have lined up Grant Thornton as an administrator if they cannot avoid becoming insolvent.
This comes three weeks after Wonga needed £10 million of investment to stay in business.
Wonga’s bright blue logo was a familiar sight in Scottish football between 2011 and 2014 as the shirt sponsor of Hearts.
At the time it was one of Britain’s fastest growing consumer finance companies and held ambitions of a New York stock market listing.
More to follow...