Loss of Major Customer
The loss of a major customer is an increasing issue in today's business environment, particularly in light of recent high profile failures such as MG Rover.
We are also seeing an increasing trend for customers to source goods from overseas suppliers and abandoning long term relationships with UK suppliers. When it happens, there can be a two fold effect: a sudden bad debt with cash flow implications combined with the with longer term implications of the lost turnover.
There is a limit to the extent these situations can be influenced so your business needs to react and adapt to changes of circumstance. Access to good quality advice and effective solutions can mean the difference between survival and failure for the remainder of your business. There are a variety of ways in which we can advise you through a difficult process.
We can help you identify a potential problem before it happens. Recognizing that your business is reliant on one or two key customers and taking steps now to spread the risk and exposure are sensible steps to take. We can help review your business and identify other markets or opportunities to avoid holding all the "eggs in one basket".
If you do lose a customer, we can help with the reorganization of the business and help deal with your creditors who will still want paying in the interim. In these instances, speed and effective decisions are of the utmost importance if the remaining business is to have the chance to survive the loss of a customer.