Top Service News
CCJ’s – An Indicator of Insolvency
Published on
The research highlighted that joinery installation and construction companies had one of the shortest journeys from CCJ to insolvency and that there was a correlation between the CCJ amount and the speed of insolvency – the higher the CCJ amount, the faster the company went into an insolvency process.
Emma Reilly, MD of specialist credit management company, Top Service Ltd, commented: “CCJs are a good indicator that a business is struggling to pay its creditors, however, in the construction sector, trading experiences and payment histories often act as an earlier indication of cash-flow difficulties. At Top Service we have been operating an early warning system specifically for the construction sector for more than 30 years. Our 3,000 customers all benefit from our national grapevine of up-to-the-minute credit information”.