London-listed Finablr, the troubled owner of currency exchange Travelex, has uncovered more than $1bn of hidden debt — a month after the company suspended trading in its shares and its chief executive resigned amid a growing scandal at the FTSE-listed group.

In a 30 April statement, Dubai-based Finablr said approximately $1.3bn in debt had been discovered, which is “materially above” what was reported for the group at the end of June 2019 and what had previously been disclosed to the board.