As an industry, manufacturing has experienced one of the largest increases in bed debt during the past 10 years. Add this to the increased cost of raw materials and the effect of cheaper imported goods, the result being reduced profit margins. In turn, the industry becomes further susceptible to bad debt as companies struggle to obtain new orders to replace lost income.
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SGP has also recorded the dramatic increase in “pre-pack” administrations in the UK. This area proves highly frustrating for our clients as they watch the same directors buy back the company, its assets and your goods to retrade from the same premises.
It is therefore critical that you instruct a reliable, professional debt recovery when accounts become overdue. SGP can help you decide who is and who isn’t a debtor and provide help with ‘Retention of Goods’ issues.
- With SGP providing you with a No Win- No Fee service, you can avoid both the cost of your time and spiralling legal costs in recovery.
- SGP will be with you all the way, dealing first hand with your debtor.