Receivables received…

PCF has recently advanced funds to complete a receivables ledger buy out from a well established ABL who was concerned they may end up with a potential shortfall on their facility with this Suffolk based construction client. With full recovery now achieved, after an interesting and somewhat prolonged experience with an aggressive main debtor and a very onerous contract we should manage to return a surplus to the liquidator Glyn Mummery, all being well. A shame we couldn’t save this business but the Client has moved on and out of a sector, insurance claims sub contracting work,  that appears to only be going one way in this climate. PCF is happy to look at further sales ledger acquisitions, ideally where there is a viable venture, going forward, so do get in touch please.

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