Cattles Invoice Finance are having a laugh now

I was checking my site ranking this morning as I’m sure we all do periodically when I spotted an unfamiliar name amongst the paid for Google Adsense adverts so clicking on I found that not only was it a website devoted to the services of Cattles Invoice Finance but I recalled seeing the site before and commenting on it’s rather deceiptful name.

This time I took more time out to read the webage and there was a section entitled “Simply fill in this short form to receive our 1 minute guide to factoring”

So far so good but a drop down list gave a list of options and you are supposed to select the option which is the most relevant. The options are:-

1) Cashflow Issues

2) Want To Grow?

3) Buying Our Company

4) Buying a Company

5) Want New factor

I know that Cattles Invoice Finance must be getting desperate by now but surely advertising for a buyer on their own website isn’t the answer 🙂

5 thoughts on “Cattles Invoice Finance are having a laugh now”

  1. Ian, you are working tirelessly to uncover sharp practices and are to be commended. Unfortunately I think you have your work cut out as it seems there are more and more rogues operating within the invoice finance arena as a whole. With regard to Cattles, the equity house involved in the proposed purchase must be getting bored now.

  2. Ted – your point about “the equity house involved in the purchase” is interesting as Cattles released an interim statement yesterday in which they said “On 5 May 2009, Cattles confirmed it is exploring options in relation to Cattles Invoice Finance, including a potential disposal. No firm decision has been reached”

    On the one hand Cattles are saying that no decision has yet been made whether to sell the invoice finance subsidiary and on the other hand they are locked in talks with their funders desperately trying to stave off their own collapse.

    I dread to think what will happen if the talks with the bankers are unsuccessful and the investment house waiting patiently in the wings has got bored and walked away as the repercussions of the collapse of a major factoring company will be felt in the whole marketplace for years to come.

  3. It may be the best thing for the invoice finance subsidiary if the parent company does fall over. The Administrator would have a ready made disposal of the invoice finance arm. I still find it difficult to believe that the invoice finance business is retaining the confidence of clients, prospects and introducers.

  4. I see that number 3) has now been changed from “Buying Our Company” to “MBO” but never mind, it was amusing whilst it lasted and seems to show that Cattles management appear to be amongst this blog’s readership.

    Relating to Ted’s last comment I was chatting to a factor today asking for an update on one of my introductions to be told that they were meeting with the prospect tomorrow and that they had already received an offer from Cattles.

    I guess that a large number of SME’s haven’t a clue what is going on in the financial world

  5. I’m pleased to see the rather deceiptful website has been taken offline now but when looking at Cattles Invoice Finance’s own website I found this rather interesting quote on the “Introducer’s Why Use Us” page:-

    “We have security of funding. With the confidence of a strong parent company, Cattles plc, our financial strength and stability is ensured. ” 🙂

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