Atradius Market Monitor October 2015

Atradius have published their latest edition of Market Monitor which includes latest reports on the UK, Brazil, China, France, Spain, as well as other markets, and a focus on the automotive sector.

Please contact us if you would like to receive a copy via email.

Claims data from the ABI shows increasing claims

The ABI has published trade credit claims statistics for quarter 2, 2015.

Gross paid claims were £34.7M, a 47% increase on quarter 1 and a 61% increase on the same period last year.

Domestic claims represented 87% of the total.

The total number of claims was 2,686 which is an increase of some 26% compared to the same quarter last year.

Statistically we have always seen increased claims as the economy recovers from a period of recession, as some companies find difficulty in coping with increased demand and costs.

Tesco admit to unfair practices with suppliers

Tesco has admitted 'a number of instances of probable breaches' of the Groceries Supply Code of Practice, in their 2015 Annual Report.

The code sets out how designated retailers are expected to fairly manage their relationships with suppliers, including obligations for retailers to pay their suppliers without delay. 

Some suppliers, however, may be reluctant to notify breaches, or take collection action for overdue debt, for fear of losing a lucrative deal. 

Longcross Construction in Administration

Longcross Construction has been placed in administration after their bank reportedly withdrew its support.

Longcross is based in Ashtead, Surrey with offices in London, Birmingham, Derbyshire, Exeter, Oxford, Sheffield and Sidcup. Administrators from Deloitte are now running the company.