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Are you in a similar situation to our clients?
If so, get in touch to find out how we can help you.
Are you in the retail industry? We have put together a selection of case studies from clients we have helped within the retail industry.
Fruit & Vegetable Wholesaler
Debt: £110,000
Challenge: Our client provided fruit and vegetables predominately to the restaurant trade. An account had built up to £110,000 which had been outstanding for more than 2 years. Despite several attempts to get the account paid, the debt remained.
Solution: We initially spent time on fully reconciling a considerable volume of invoices to match with the statement of account and proof of deliveries. We then made a demand for payment, which the debtor continued to dispute. The debtor was unable to substantiate the grounds for the dispute nor provide any evidence. Our client engaged our Escalate no cost litigation service. Litigation proceedings commenced which were defended, however, our claim was successful. Bankruptcy proceedings commenced and also defended, again our claim was successful.
Result: Immediately prior to the final bankruptcy hearing, the debtor settled at £180,000 (including costs, plus interest). The case took in excess of 12 months and without the litigation funding, it would have been hard for our client to sustain.
Merchandising retailer
Debt: £1,933
Challenge: Our client was unable to collect monies owed to them in respect of two unpaid invoices. They were assured payment had been made but reached a stumbling block when the debtor failed to provide evidence of payment and attempted to mislead our client over several months
Solution: We took the pressure off the client by taking control of the account. We knew the debtor was making excuses and avoiding the issue so we made it clear that non-payment would result in court action. We contacted the debtor regularly by email, phone and letter to ensure that the debt was paid.
Result: Payment in full plus costs, within 1 month of our instruction.
Car Retailer
Debt: £9,250
Challenge: Our client contacted us having been recommended by a mutual contact. The client needed our assistance in collecting the proceeds from the sale of a motor vehicle to the debtor company.
The client had allowed the purchaser to take the vehicle and pay later as the client had previously done business with the debtor. However, payment was not forthcoming despite the account not being in dispute.
Solution: By the time we took on the case, the debt was over 6 months old. We therefore set to work in recovering the money owed. We contacted the debtor entity by post and email making clear that legal action would incur additional costs.
Result: Payment of the invoice was received in full.
If so, get in touch to find out how we can help you.
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