Case Study 2

£500K surplus achieved, despite 12,000 invoices to collect

Credebt Case Study 2


We successfully recovered 110% of the Funds Out position on behalf of a major Funder when a group of two Site Preparations businesses became insolvent. As expected, one business went into Administration and the other continued trading.


We were instructed by the Bank’s Invoice Finance Division and the Main Bank to take over the Collections for two Site Preparation businesses. Between them, they had 800 plus Debtors and over 12,000 outstanding invoices with a total value of £6.1m. The companies owed £2.2m to the IF Division and £3.2m to the Main Bank.

The remit was to take over the Collections for both companies, whilst various stakeholders, both in the UK and abroad, agreed a workout strategy which would result in one business entering Administration and one being able to continue.

Intercompany Position Monitoring was therefore paramount.


We assigned 4 staff members to work permanently on both ledgers until the debtors were under control. The aim was to get the 90-day-plus Debt greatly reduced from its opening position in excess of £2.5m.

We secured full remote access to banking, invoicing and backup systems and we set up a dedicated phone line and email for chasing.

We were on-site weekly to resolve queries and to meet with the on-site team to discuss progress.

We had at least weekly conference calls with all stakeholders to discuss progress and to inform them of our feel for the ledger, as Funds Out decisions were based on our recommendations.



One of the two companies entered into Administration, as expected, and we recovered the IF position in full for that company. We also achieved a surplus of £500K which was transferred across against the Main Bank debt.

The other company traded out of the position they were in and continued as a going concern.

Our total involvement with the business from start to finish, including the Collect Out, was five months and both divisions of the Bank were extremely happy with the result.

£5.9 Million Recovered


of Funds Out

How can we help?


Credebt provide a full range of expert Receivables Management Solutions to the Insolvency Profession, the Invoice Finance Industry, Turnaround Practitioners, advisers and their clients, from full sales ledger recovery to outsourced credit control.

For more information about how we can help call 08456-6385256
or email our MD, Glen Morgan at

I’ve worked with the team at Credebt on a number of assignments and they have consistently impressed, moving quickly and efficiently to preserve and maximise value for creditors. I wouldn’t hesitate to instruct them again and would be happy to recommend their services.

Jonathan Dunn - BDO

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We work for Invoice Finance companies, Insolvency Practitioners and Turnaround Specialists throughout the country. If you would like us to contact you to discuss our services please send us your details.

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Credebt Limited: Registered in England Number: 6933734 Registered Office: Trym Lodge, 1 Henbury Road, Westbury on Trym, Bristol BS9 3HQ
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