Another small factoring company to disappear?
According to the rumour mill, Cattles have acquired London Scottish Bank. Whilst both companies are probably best known as sub prime consumer lenders they both acquired a pair of factoring companies along the way.
Cattles Invoice Finance is one of the larger independents whilst London Scottish Invoice Finance has earned a fine reputation for it’s service levels so it will be a shame if these service levels were to disappear in the quest for increased profits.
There is no doubt that there are too many players in the factoring market but it’s just a shame that it’s the smaller independents with the good reputations for service that are being gobbled up.