The Institute for Turnaround has criticised credit insurers for withdrawing
cover across the whole of troubled business sectors, without taking the
situations of individual companies into account.
The insurers provide cover to companies which gives business some protection
from clients not paying their invoices, but the IFT has said that the insurance
is drying up.
Christine Elliott, chief executive of the IFT told the FT that a poll of
members had uncovered ‘ blanket sector reductions in credit cover,’ or
‘withdrawal without regard to individual operations.
‘If a sector is viewed negatively, [the insurers] may well pull sector cover
and not discriminate, Elliott added.
Mark McMullen joins the private client services team from Smith & Williamson
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks