March 27 - I can't be the only person who gets as annoyed as heck by pre-pack liquidations.
I mentioned last week that one of our customers looked like it might go. Well, it has, of course. And then next day there it is back up and running again asking for credit under another name.
So we lose a debt and are then asked to fund the new start up.
Well, actually, we won't. You can rip us off once, but these companies seem to have a habit of going down again within two years now, or so it seems to me. So my answer is 'no'. The total loss does not justify the margin in the meantime. So they pay on an upfront quarterly contract this time or they can go elsewhere. It's up to them. But they won't have long to decide because the kit is ours in this case and I'll go and get it if they don't agree terms. That's my right. And it might just help cover our losses to get it back for reconditioning.