Hodge Bank has reassured dealers that Blue Motor Finance is ‘open for new business’ after completing its rescue of the lender through a pre-pack administration deal. Importantly for car dealers, the bank confirmed that Blue Motor Finance, operated by Hodge MF Limited, remains open for new business. ‘Blue Motor Finance (operated by Hodge MF) remains open for new business, and we look forward to continuing to support its dealer and broker network. The update follows last week’s announcement that Blue Motor Finance had entered administration after years of losses and mounting compensation liabilities linked to the motor finance redress scheme. The administration came just months after Car Dealer revealed reports that Blue Motor Finance was ‘teetering on the brink of collapse’ amid claims it faced a motor finance redress bill of more than £50m.