Davenham is the latest factoring company to cease

Aston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

It has been well known for a while that Davenham were in serious trouble and they have been pretending to lend recently rather than actually doing so.

The staff were told to expect a decision on the company’s future by the end of June and that future now seems to be that they are formally ceasing to write new business whilst the company enters “collect out” mode.

Whilst it is possible for them to collect out their loan book in a prudent and orderly manner as claimed by the company, one cannot do that with factoring so I hope that arrangements are in hand to transfer the book to another factoring company causing as little pain as possible in the process.

This is the third factoring company in a very short space of time to crash into the rocks following hard on the heels of Aston Rothbury a few days ago and Challenge a few months ago so let’s hope that this is the end of it now as it doesn’t do the industry any good at all.

Posted under Factoring, Factoring companies

This post was written by Ian on July 2, 2010

Tags: Aston Rothbury Factors, Davenham

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Aston Rothbury portfolio acquired by Bibby

Davenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on e-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

Bibby Financial Services have acquired the client portfolio of Aston Rothbury Factors which apparently comprises just 40 clients and is considerably less than the 109 clients claimed in Business Money earlier this year.

Posted under Factoring

This post was written by Ian on July 27, 2010

Tags: Aston Rothbury Factors, Bibby Financial Services

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Another factoring broker who thinks it’s acceptable to steal intellectual property

Aston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

One of the problems that being top of the search engine rankings causes me is that there are always unscrupulous people out there who rather than develop their own websites just copy mine.

Since I started this blog I have commented twice on unscrupulous rogues that have copied my website and now another one has crawled out of the woodwork.

factoringandfinance.co.uk and ajmartinco.com are word for word copies of www.factoringsolutions.co.uk with only the chap’s name and phone number changed. I telephoned him to ask him why he had stolen my intellectual property and he denied it saying that it hadn’t been copied.

One would have to be pretty stupid to try and make a case out that his website is original, especially when the source code still includes a link to my stats package complete with site name.

I repeat what I have said before

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Save money and use a factoring broker

Another factoring broker who thinks it’s acceptable to steal intellectual propertyAston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Bibby is not being taken over by Ultimate FinanceIan on Bibby is not being taken over by Ultimate Financejules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

I like to think that the major advantages of using the services of a specialist factoring broker like myself is that many of the factoring companies don’t perform as well as they claim and I know the market sufficiently well to steer companies away from the poorer performers.

Whilst some companies might approach me with this view in mind I’m sure that many would rather approach the factors directly believing that it would save them money on the basis that if I receive an introductory commission from the factoring company they would get a cheaper rate by going direct as the factor wouldn’t then have to pay me.

I received an email last night from a prospective client asking me to quote an approximate rate for his business. I spoke to my contact at the factoring company that I thought to be most appropriate who quoted me a rate which I subsequently emailed to the prospect.

I received a telephone call this morning from him saying that he wished to go ahead at the quoted rates but he was quite surprised when I told him which factoring company it was as he had already approached them directly and they had quoted a significantly higher rate.

Posted under Factoring companies, factoring brokers

This post was written by Ian on September 21, 2010

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Bibby is not being taken over by Ultimate Finance

Save money and use a factoring brokerAnother factoring broker who thinks it’s acceptable to steal intellectual propertyAston Rothbury portfolio acquired by BibbyDavenham is the latest factoring company to ceaseAston Rothbury has gone bustRestaurants and eating out etc.Recent CommentsDave on Another one bites the dust at Close Invoice FinanceIan on Ian on jules on Another one bites the dust at Close Invoice FinancePAUL on Another one bites the dust at Close Invoice FinanceALAN on Another one bites the dust at Close Invoice FinanceIan on Aston Rothbury portfolio acquired by Bibbye-affacturage on Another factoring broker who thinks it’s acceptable to steal intellectual property Popular PostAnother one bites the dust at Close Invoice FinanceAbout the factoring blogFairfax Gerrard in AdministrationCattles Invoice FinanceWageroller in AdministrationChallenge Finance enters Administration Meta RegisterLog in

Shares in Ultimate Finance were suspended this morning subsequent to an announcement that talks were well down the road leading to a reverse take-over of another factoring company.

Needless to say the wires have been hot with speculation today and so far it has been confirmed that 15 different factoring companies were the target according to 15 different people with Bibby being the only one so far that hasn’t been mentioned.

I will admit now that I honestly haven’t a clue who the target is and although I can rule out many of those being speculated about on the basis of size, culture or geography I can’t come up with a sure fire alternative.

Posted under Factoring, Factoring companies

This post was written by Ian on September 22, 2010

Tags: Ultimate Finance

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