Horizon Group, the Jersey-based wealth management firm, has gone into liquidation, according to local media reports.

A notice published in This is Jersey said the company was put into liquidation on 22 February following a request from the directors, without explaining the reason behind the development. The notice was published by Deloitte.

This publication has tried to contact Horizon, whose website was undergoing maintenance yesterday.

Unconfirmed media reports have speculated that Spearpoint, the investment boutique with offices in both Guernsey and Jersey, has been interested in buying the company or its assets. Local media has previously reported how Horizon's headcount has decreased drastically in recent years.