I read with interest in the FT on Saturday about a commercial credit agency in the UK that gave a profitable UK company a poor rating, due partly to the fact that neither director was a UK national. One of the directors of Powerchex called the action of agency Creditsafe discriminatory. I must say, i was surprised to see this in the paper. Being a Managing Director of a credit reference agency myself, i know the characteristics that make up our own scorecard, and race of Directors is certainly not present in the list .
In this case, the two Directors were Americans living in London.
I sincerely hope that as a nation, we don’t send out a message to the world that there is no point their entrepreneurs coming to Britain because even if they succeed in building a strong business, they won’t enjoy a good credit rating here!!!!
For more ,please see the FT article from 25th april-
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies