Calls to limit the number of payday lenders in Glenrothes

Kingdom Centre owner's comitment to limit payday lender firms in the mall have been welcomed.
Kingdom Centre owner's comitment to limit payday lender firms in the mall have been welcomed.
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Calls have been made for the Kingdom Centre owners to make a firm commitment limiting the number of payday lenders in the town.

It follows comments from the man at the top who wants to curtail their numbers.

Payday loans firms offer a short-term solution to filling vacant units but long-term offer nothing to shoppers

Simon Usher

Simon Usher, asset manager with LaSalle Investment Management, which controls the Kingdom Centre, spoke on the issue when he addressed the Glenrothes Area Futures Group AGM.

He said he wanted to curtail the number of high street money lending firms positioning themselves within the shopping mall.

Melanie Ward, Labour’s paliamentary candidate, has this week written to him seeking confirmation that there will indeed be no increase on the current five operating in the town. She is seeking a long-term commitment to the restriction.

Mr Usher said recently: “Payday loans firms offer a short-term solution to filling vacant units but long-term offer nothing to shoppers.”

He also voiced support for the Kingdom Credit Union, saying it would be rehoused in main centre from its current Albany Gate premises should that part of the town be redeveloped as hoped.

Alistair Baker, from the town’s foodbank, backed the news.

He said: “We regularly witness how relatively small debts can spiral into a crisis, and payday lending is a significant contributing factor in this.

“We would welcome any reduction in the number of local payday lenders, just as we would welcome any additional support given to local credit unions which enable people to service their debt in a controlled, manageable way.”