The RLD promotions were advertised on Portman’s website but were taken down on Tuesday. The building society said it would strive to ensure that those who had taken out a mortgage with the lender and offered the RLD incentive would not be out of pocket.
RLD went into administration on Monday, weighed down by debts. A statement on the company’s website said although administrators have been appointed, the company has been given a lifeline.
Entrepreneurs Peter Jones and Theo Paphitis have purchased the assets and goodwill of the company and discussions over the next few days will take place with all suppliers so individuals with current vouchers can rebook and enjoy the experiences they have purchased.
Lynsey Hallam, spokes-person for Portman Building Society, said: “The promotion has been removed for now. We’re waiting to see what happens with RLD and what it will do with companies that are using its Red Letter experiences.
“Lots of other firms have been affected by this. We will obviously make sure none of our customers are out of pocket. This may mean offering them something different.”
Mike Fitzgerald, sales director at Brentchase Financial Services, commented: “I would imagine that once brokers become aware of this they will get in contact with Portman to see what their clients should do if they haven’t used their RLD voucher yet.”
