Cobra wishes everyone a prosperous 2015.
Whilst 2014 was a successful year collection wise we cannot help but look back at 2014 and treat it as a major learning experience if the year as a whole has taught us anything it is that it does not matter how big a company is or whether are blue chip this does not Guarantee payment.
We witnessed many occasion were “Blue Chip” companies such as Formula 1 teams Marussia & Caterham became Insolvent, the harrowing part of our job at times is that we witness the effect that it has when a debtor goes bust and we see the knock-on effect which has meant many of our clients have had no option but to go bust themselves.
Already in the early part of January, we have been contacted by many a client advising they have been sitting there waiting to be paid from The parcel company “City Link” and be told, “the cheque is in the post”. Of course clearly, no cheque was going to be posted as they knew behind the scenes that they were preparing to go bust, to do it on Christmas Day is cruel, add that to the fact that our distribution client has also lost 122k is not the start anybody wants for 2015.
Hearing these stories makes it more important to emphasise that if you are not being paid or being lead down the garden path with excuses then after what we have seen in 2014 it is imperative that you do something to secure the monies due to you as there could well be something going on behind the scenes with your debtor.