CPA Warns No Business Too Big To Fall
10th January 2018.
Whether you are big, small or somewhere in the middle…you always run the risk of it all coming tumbling down. There is a myth that big companies are invincible but this is not quite the truth. Here at the Credit Protection Association we have dealt with businesses of all sizes and have seen them all fall victim to credit mismanagement and late payments.
This has been dramatically demonstrated by the recent fall of the services and construction group, Carillion. Initially, a worldly successful business, employing over 40,000 people worldwide; in the last six months, it has seen a significant swing in its fortunes.
With three profit warnings issued last year, and the revelation of £1.15 billion half-year losses and a £590 million pension deficit, its future has been thrown into real doubt.
Carillion has now made one last ditched effort to save itself from collapse, by announcing a new business plan. To be revealed later on in the week, this plan will detail ways to reduce debt, obtain new funding, and get the construction giant back on track.
Owning a business is hard work, and keeping it afloat is even trickier. You have to keep an eye on cash flow while dealing with clients and day-to-day duties. This is why hiring a company like CPA could relive your heavy load. We will chase those late payers or non-payers, improve your cash flow and offer advice on your credit rating and credit management. Don’t let your business join the ranks of Carillion and Palmer & Harvey, we can help!
The Credit Protection Association is a credit management company established in 1914. If you supply goods or services on credit then we can help you!
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