Supplier Health Check

The problem
A number of our commercial clients are working on building projects with failing contractors or where new contractors are appointed in place of insolvent  contractors or  the contracts are novated. Some  clients are  not  happy  that  they are being pushed into novated contracts with different contractors when they may prefer to go elsewhere.

Across England, Wales and Scotland the number of companies with critical problems in March 2010 was 1,395 and 172 of those were in the North West and North Wales region. A critical problem is county court judgements totalling £5000 or more and/or winding-up petition actions. More worryingly the figures in the same regions for companies with significant problems in March 2010 were 50,248 and 5782. A significant problem is a company with a court action and/or poor, very poor, insolvent or out of date accounts. If these companies are your suppliers they could cause real issues for you.

Solution
We are now able to offer a general health check to our commercial clients on any contacts that they have concerns about. The Alert software can provide details of these companies to enable identification of financial problems and appropriate steps to be taken to protect your interests.

The software allows us to see:
    • If a petition has been lodged at court against the company 
    • The county court history of the company
    • Any judgments over certain thresholds in the last three months against the company]
    • Indications that accounts may illustrate if the company is insolvent
    • Any striking off notices against the company
    • If the company’s accounts are poor or overdue.

Please contact Catherine Kay on 0161 234 8861 to learn more about this service.