With support being promised by an overseas parent, there would be no opportunity to act against the parent in the event of collapse of the UK subsidiary.
I had to deal with creditors on a daily basis. I still cannot believe how many never chased us for late payments, nor can I understand why others continued to work for us when we were clearly in very serious trouble.
The only thing creditors can do is learn from the experience, be more serious about assessing clients' creditworthiness and never rely on the support of a parent company other than with a formal guarantee. When there is doubt about a client's ability to pay, more consideration should be given to cash flow and less to winning work.
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