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07 Jan 2009
Comments:1
DSG international (DSGi) has been dealt a further blow after credit insurance giant Euler Hermes reduced its cover this week.
Last year, DSGi admitted it had been caught up in Atradius’ decision to reduce risk in the wider retail market.
A statement to CRN from the retail giant said: “As everyone is aware, credit insurers have been reviewing the level of insurance provided to suppliers across a number of industries including retail. This is not a DSGi specific issue.
Further reading
“As market leaders we are an important route to consumers for our suppliers’ products and we have seen no change in our overall terms with our suppliers.”
Euler Hermes was not available for comment.
However Eddie Pacey, director of credit at distributor Bell Micro, said: “Given the state of the retail market currently I can understand the nervousness shown by any insurer.”
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Do you agree?
Credit Insurers driving the crunch?
As credit insurance is downgraded this has an inevitable effect on an organisations ability to continue trading unless they have plenty of cash in the bank - is it the credit insurers rather than the banks which will be instrumental in the failure of many otherwise viable businesses?
Posted by Crunchie | 20 Jan 2009
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