Medium-sized companies are going under, as the credit crunch begins to
squeeze the engine room of the business community, according to new figures.
Credit insurer Atradius said it had noticed a sharp increase in the number of
businesses holding out on paying suppliers, pushing credit terms out from a
month to as much as 150 days.
‘We’re now seeing a number of medium-sized companies going under,’ Atradius
senior risk underwriter Mark Henstridge told the Daily Telegraph.
‘Pushing out the trade terms is a way of getting free credit. Some companies
are doing this to limit their debt, but others have to because they can’t
borrow, and that is more dangerous,’ he added.
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Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens
Team Rock the publication of classic rock is in administration with FRP Advisory
Lifestyle Living UK is being marketed for sale by FRP Advisory administrators