Disclosed Invoice Discounting
Updated: 14th February 2007 (PM)
Turnover: £1.2m
Based in Leicestershire, this manufacturer of cardboard cartons was established in the late 1980's, providing a high quality product to a blue chip debtor base. More recently, the company has been through a re-organisation in order to reduce costs and streamline operations. Having operated a confidential invoice discounting facility for a number of years, their relationship with the discounting company had not been without its problems. The discounting company had undergone a couple of changes of ownership, and there had been frequent changes in the members of staff handling their account. The final straw, however, came when the discounting company tried to impose a move to a factoring facility. Unhappy at the prospect of changing to factoring, our client contacted us to find an alternative invoice discounting facility. They faced a long notice period to terminate their existing facility, but the discounter that we introduced was extremely patient, and helped to make the final transfer between the two companies as smooth as possible.
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