It may well have been a big surprise to many people but the press release sent out earlier this week announcing that Cattles is shaking off it’s rather downmarket image by rebranding as Absolute Invoice Finance will have come as no surprise to readers of this blog as we gave away their secret way back in April.
When writing the text for Factoring Solutions website ten years ago in 1999 I added the quip that “many companies using invoice finance to speed up cash flow still find their factor by looking in Yellow Pages – which is surely why there are so many factors beginning with the letter A” and it gives me great pleasure that the powers that be at Cattles have heeded my words 🙂
I doubt whether many people use Yellow Pages any more but there are obviously web directories that list factoring companies in alphabetical order so Absolute will jump up the queue with their name change and regain the position that they had when they used to be known as Argent Commercial Services.
I wonder if anyone will now consider changing their name to Aardvark Factors to get pole position
Hi Ian,
Have you heard the latest on Absolute (Cattles) Invoice Finance? They have now become part of Aldermore Bank Plc which is owned by the same private equity group. What are your thoughts on this?
Several pundits have commented that Aldermore Bank offer amongst the highest rates for savers and consider their savings accounts to be a “Best Buy”
It’s only two years ago that they they were saying the same thing about the Icelandic banks and look what happened to them.
Of rather more interest than shuffling the factoring company ownership from their left hand to their right is the fact that Doug Crawford will shortly be leaving