The zombie apocalypse could be coming sooner than you think, with R3, the Association of Business Recovery Professionals, warning that an even greater number of companies are now showing the hallmarks of being 'zombies'.

It's a term that rose to prominence at the height of the recession, and was used to refer to those firms capable of covering their outgoings, but only just - and which would therefore very quickly fall into insolvency if their interest rates rose, or their cash flow was interrupted.

Published in Credit Control

It seems only fitting that Halloween week should be the moment when Blockbuster Video - one of the UK's biggest zombie businesses - reveals that, for the second time in ten months, it is lurching back into the corporate graveyard.

Zombie businesses are those that are only just surviving, but would be unlikely or unable to continue to do so if there were any kind of substantial shock to their ongoing operations.

That pretty much sums up Blockbuster's situation, as current owners Gordon Brothers Europe have been unable to bring the company into the 21st century; former US parent company Dish still own the digital rights to the brand, and competitors like LoveFilm, Netflix and Sky have already cornered the British market for streaming films.

Published in Credit Control

Recast Late Payment Directive Consultation

Businesses that have been surviving at the edge of affordability - commonly called 'zombie businesses' for their inability to survive any further change in the health of their cashflow - could be particularly keen to see the Late Payments Directive introduced as planned.

The Department for Business, Innovation & Skills is running a consultation until October 19th on the Late Payments Directive (or European Directive 2011/7/EU, to use its proper name), which should help many small businesses to receive full payment of their invoices within 30 days - and to charge interest on top of any debts that go unpaid for longer.

 

Published in Debt Collection

The government's ongoing pledge to help small businesses keep their cashflow looking healthy has taken a new turn - and it's like 'improving' policing by asking criminals to turn themselves in.

Ministers in the Department for Business, Innovation and Skills work with representative groups of small firms on the Small Business Economic Forum.

Published in Debt Collection

Night of the Living Debt as 'Zombie Businesses' take over the UK!

Watch your backs people - there's a zombie revolution taking place, and the bloodthirsty brutes have got a taste for your money.

R3, the Association of Business Recovery Professionals, says there are already 146,000 'zombie businesses' out there, including much of the retail sector, leaving Britain's high streets looking like something out of a horror movie, financially speaking.

Published in Debt Collection
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