B&Q suppliers woes & how Credit Insurance can help the SME business

Reports in the press state that a previous supplier to B&Q is threatening legal action against Kingfisher group. 

Terry Clark says his company TWC, failed as a direct result of their “horrendous” payment performance. 

Notice of Administration - GB Building Solutions Ltd

Atradius have issued the following advice for creditors.

It has been confirmed that Anthony Nygate and Graham Newton of BDO LLP have been appointed as Administrators of GB Building Solutions Ltd and GB Group Holdings Ltd with effect from 09 March 2015.

The Insurance Gap

Whilst the current economic outlook is generally very positive, running any business carries its risks.

Unforeseen events can seriously impact your business, or your customers business!

An exceptional event, such as a fire or flood, can interrupt trading for days or even weeks while repairs are undertaken and stock replaced. This can spell financial ruin for companies that are unable to continue trading at alternative premises.

Bank Fashion & USC enter administration

The new year period is often a challenging month for some businesses and this year is no exception.

Two major fashion retailers have entered Administration already this year, first Bank Fashion Ltd and now West Coast Capital (USC) Ltd – a wholly owned subsidiary of the Sports Direct Retail Group.

Suppliers to these retailers will be anxious to mitigate any potential losses, and Atradius have produced creditor factsheets providing further advice.