We have had a number of clients approach us due to their bad debt protection / credit insurance limit being removed on Eddie Stobart Limited and other associated companies. This comes in the wake of the publicised story of financial irregularities and suspension of their shares. This shock announcement means credit insurance companies take a quick decision to reduce their exposure and remove protected limits. Invoice finance lenders usually work directly from insured limits so if the insurance is removed, so is your access to finance against these invoices.
For many businesses this will have a huge impact on their invoice finance facility, hitting cashflow with an inability to fund against these invoices. Whilst any type of invoice discounting or factoring may not be possible for any Eddie Stobart Limited invoices, we do have alternative options for clients for fast turnaround finance. If you find yourself requiring funding to cover this period please do get in contact.