Wholesale debts should be relatively simple – either you supplied the goods or you didn’t. However, debtors in this industry often deliberately target suppliers they suspect will not credit –check them in advance and/or may be unable to spend the cost of pursuing them legally. If a wholesale debt goes unpaid, not only do you lose your profit but you also have to pay your supplier for the goods, taking a double hit.
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.
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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