To All Our Suppliers
Just to iterate our problems with our bankers: The bank has decided they can no longer accept export invoices as part of our debenture; this is causing us problems, as virtually all our business is for export at present. Furthermore they have decided to increase the UK good debtor cover from 1 Vi times to 2 Vi times, again diminishing our overdraft facilities.
Our credit rating from O&B is 91,1 must reassure you that we have no underlying financial problems! Thank you bearing with us; we are at present trying to find a more user friendly bank to support our trading. I
I hope you will reinstate our account.
Yours Sincerely Mrs J B Clements Finance Director
Published on Jan 26, 2011