Cattles Invoice Finance – the problems mount

Cattles seem to be having a tough time of it lately as according to an article in the Scotsman a few days ago here it seems like one of their Scottish clients has been invoicing fresh air to the tune of £650,000

As if that wasn’t bad enough the shares in the parent company dived again last week as they had to issue a warning that their results would be delayed “pending completion of a review of the adequacy of its impairment provisions” which sounds to me rather like the auditors aren’t happy with the provisions.

Talking to one factoring company last week I was told that they were being inundated with CVs from employees from Cattles Invoice Finance which speaks volumes about staff morale.

3 thoughts on “Cattles Invoice Finance – the problems mount”

  1. I hear from a Cattles insider that there will be an announcemnet next week and the long mooted take over will finally be announced.

    I sincerely hope that this isn’t yet another false dawn as the constant rumours about the company’s financial state are harmful to the whole indstry

  2. Interesting that Cattles Invoice Finance are principal sponsors of the comic – sorry serious journal – Business Money. Given the track record there, Versailles, Landbanki etc etc the coffin nails are probably being sharpened already

  3. I don’t subscribe as I’m just an impoverished factoring broker and can’t afford the £10 per edition to read about each factoring company in turn promoting themselves as being the best thing since sliced bread.

    Quite often the featured sponsor will send me a copy so that i can read their article but somehow I doubt whether Cattles will be sending me a copy 🙂

    .

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