First Capital Factors - In Administration
The factoring company, First Capital Factors Limited (FCF) has gone into Administration. Their website states that FRP Advisory LLP are the insolvency practitioners appointed as Administrators for the business and that the affairs, business and property of the company are being managed by Geoff Rowley and Russell Cash who were appointed Joint Administrators on 19 September 2016.
It is sad to hear that an established, well known name within the sector has run into difficulties.
Help For Clients and Customers of First Capital Factors
A quick search at companies house suggests that there are just shy of c. 150 trading businesses, with charges registered in favour of FCF. A quick look at the variety of industry sectors that they served suggests that there are some more difficult sectors, such as construction related trades, that they have assisted. If you are a client of First Capital Factors you may be worried about continuity of funding. We understand that some clients may have received contact from one or more parties seeking to offer them alternative funding facilities.
We understand that Leumi ABL are looking to continue facilities for the existing clients and the good news for existing clients of FCF is that there are plenty of alternative providers in the market place that are likely to be able to offer alternative facilities, even within the more difficult trade sectors. The opportunity is there for customers to check their rates against the market and seek an improved deal.
Find Alternative Finance
If we can help you find alternative finance, please either call Sean on: 03330 113622 or request a call back.
Posted: 28th of September 2016