Alpari administrators KPMG say there are potential buyers

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The administrators called in to run failed spread betting firm Alpari UK said they have received several inquiries from potential buyers.

KPMG was appointed on Monday after Alpari, the sponsor of Premier League club West Ham, closed following last week's turmoil in the currency markets.

Several foreign exchange firms were hit after the Swiss National Bank scrapped the franc's peg to the euro.

KPMG said Alpari holds about £66m in client money which would be returned.

Richard Heis, one of the KPMG administrators, said: "We have had a number of inquiries from interested parties in relation to the company's business.

"We will be speaking with these parties and others over the next few days, and hope to secure a deal to preserve the business and jobs as far as possible."

The Wall Street Journal on Monday reported that Pepperstone, an Australian foreign exchange trading firm, was interested in possibly buying Alpari.

The WSJ quoted Pepperstone co-founder Owen Kerr as saying 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.

Friday's surprise decision by the Swiss central bank to end the franc's peg to the euro created "exceptional volatility and extreme lack of liquidity", Alpari said in a statement last week.

It left the firm exposed to huge losses. "Where a client cannot cover this loss, it is passed on to us," it said. "This has forced Alpari (UK) Limited to confirm today that it has entered into insolvency," the firm said.

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