Challenge Finance the small Kent based factoring company has been in trouble for a few years if the rumours are to be believed but it seems that it’s backers have finally lost patience and pulled the plug by appointing Administrators.

Hopefully a white knight will hurridly appear so that the repurcussions for the 90 clients won’t be too severe as if Bibby another factoring company were to move quickly the disruption would be minimized.

Hopefully Coface won’t lose too much money on this failure as they are still licking their wounds over the Wageroller debacle which cost them a pretty penny