Home > Uncategorized > Paperlinx. An object lesson

Paperlinx. An object lesson

1ff46d9c8f00e67b923ccd2d4fcb1abfWith a high profile in the ever nervous and fragile Printing industry, the collapse of Paperlinx has sent shock waves through the sector

But why has the business collapsed? The above article gives a number of reasons, all of which stem from sheer bad management but the most striking of which was;

“I have been observing Paperlinx for years, and their credit control was the worst. They were absolutely hopeless at getting the money in,” says William Martin, the managing director at Aston Colour Press in Twickenham. “I pay my suppliers promptly at the end of the month. I’d have the money ready for Paperlinx and they wouldn’t even ask. Other merchants would be straight on the phone, whereas they were giving me 90 days credit without me wanting it or asking for it.”

It is extraordinary that a low margin business cannot give priority to credit management. Sometimes you just feel that for some finance teams it is an area they do not wish to address or worse still, simply look down on

I have experienced this is some industries and in this particular case, whoever was responsible has no further role to play in the commercial sector

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