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Articles about Atradius

'Zombie hunter' task force unleashed on the UK tech biz

A special force of crack zombie hunters swings into action today to rid old Blighty of the shuffling scourge of undead firms surviving only to pay the interest on debts. The mission of the task force, whose formation was revealed by The Channel last month, is to build a profile of private equity backed businesses in the IT …
Paul Kunert, 13 May 2013

Credit insurer sets up 'task force' in wake of enormo UK IT biz failures

Trade credit insurer Atradius is setting up a specialist task force to analyse UK channel companies that have a high debt-to-assets ratio or have VC backing in the wake of recent high-profile and costly failures. As world + dog knows, High Street giant Comet hit the wall in December owing creditors £257m, costing the UK …
Paul Kunert, 15 Apr 2013
Northamber

Credit safety net ripped from under elder IT distie Northamber

QBE Insurance has removed entire lines of trade credit insurance on Surrey-based distributor Northamber, The Channel can reveal. Declining trade at one of the oldest wholesalers of IT gear in Blighty is understood to be the reason behind indemnifier QBE's decision, say our sources. Disties Computers Unlimited (Janson Group) and …
Paul Kunert, 30 Apr 2013

CSI coughs for K3's SAP biz

Private-equity-backed Computer Systems Integration (CSI) has acquired the customer list of K3 BTG's SAP Business Objects Maintenance division for an undisclosed sum. Venture capitalist Blackhawk Capital, one-time owner of Microsoft LAR Teksys - which it sold to Di Data in 2009, bought CSI last October as the first in a roll-up …
Paul Kunert, 17 May 2013

Dip in Blighty's titsup tech firms... but what about the ZOMBIES?

An eerie calm has descended in the UK technology channel* as company failures stabilise and the recession lifts, but with legions of undead corporate corpses stalking the land, an insolvency storm could now be brewing. That was the prognosis of experts in the credit and insolvency sectors, a week after UK GDP figures from the …
Paul Kunert, 01 Nov 2013
closed_sign shut down under collapsed liquidation

Don't wait to check your parachute until you're out of the plane

Business failure and insolvency are so rarely a cheery subject. But it's kinda funny how frequently companies hit by high-value losses almost immediately say "we had insurance", as if to say the loss will not be felt too hard. It’s tempting to boast that your debt is insured when it isn’t: it makes the loss seem less troublesome …
Eddie Pacey, 17 Jun 2013
channel

Micro Anvika forced into cash-only trading

Fears are mounting over the future of veteran Tottenham Court Road retailer Micro Anvika after credit insurers removed cover for suppliers and it was forced to trade on a cash-only basis. The firm continues to pay bills on time but channel sources have questioned whether the pressure on working capital is sustainable following …
Paul Kunert, 14 Nov 2011
channel

Micro Anvika seeks channel props for CVA rescue plan

Troubled Tottenham Court Road retailer Micro Anvika is seeking approval from distributors to green-light a restructure package. The independent – which set up shop in 1984 and has seven stores including a concession in Harrods – appointed biz consultancy Re10 last month to advise it on the best way to counter the slump in …
Paul Kunert, 02 Feb 2012
channel

Intel shocks with profit warning

A month ago Intel CEO Paul Otellini didn't know "what impact the financial crisis will have on end customer demand". He does now and it's not good. Intel has cut fourth quarter revenue guidance by ten per cent, citing weakening global demand and PC supply chain inventory reduction. Instead of earning $10.1bn - $10.9bn in its …
Chris Mellor, 13 Nov 2008