Receivables Bankruptcy Protection
Bankruptcy protection on several credit risks is available | Call Trade Risk Strategies: 1-888-644-4422
A short list of retail credit risks we can provide immediate coverage on are Office Depot, Office Max, Sears, Kmart, Sears Canada, Eastman Kodak, Supervalu, Great Atlantic & Pacific Tea Co, Toys R Us & Rite Aid.
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
Toys R Us Bankruptcy Protection
Bankruptcy Protection on Toys R Us is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
Rite Aid Bankruptcy Protection
Bankruptcy Protection on Rite Aid is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
Sears Bankruptcy Protection
Bankruptcy Protection on Sears is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
Orchard Supply (a Sears Company) Bankruptcy Protection
Bankruptcy Protection on Orchard Supply is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
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Orchard Supply Hardware CEO resigns
Rob Lynch, who was CEO and president of San Jose-based Orchard Supply Hardware for nearly seven years, has resigned to become chief operating officer and president of Lumber Liquidators, a Virginia hardwood flooring retail chain.
In announcing Lynch’s resignation Monday, Orchard Supply said it will temporarily be led by Allen Ravas, former chief financial officer of Sears Canada. Ravas, who will become chief administrative officer and a member of the board, was an Orchard Supply board member in 2008 “and knows the business well,” a company statement said. A national search firm is helping to look for a new president and CEO, the statement said, adding that the board “is dedicated to finding a new leader to drive profitable growth that will benefit our customers, employees and suppliers.”
Starting as a farmers cooperative in 1931, Orchard Supply now has 89 California stores offering home improvement and gardening products.
Lumber Liquidators, based in Toano, Va., calls itself the largest specialty retailer of hardwood flooring in the United States. A statement issued by that company said Lynch will take over as COO there on Jan. 17.
Bankruptcy Protection on Orchard Supply is Available | Call Trade Risk Strategies: 1-888-644-4422
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Notable Bankruptcies 12/13/2010 – were your receivables protected?
Notable Bankruptcies 12/13/2010
| • | Great Atlantic & Pacific Tea Co | ||
| • | Comprehensive Medical Imaging Inc | ||
| • | InSight Health Services Corp | ||
| • | RHI Entertainment Inc | ||
| • | 1St Vanguard Mortgage Co LLC | ||
| • | Molecular Insight Pharmaceuticals Inc | ||
| • | Paul Rosa Inc | ||
| • | South Edge LLC | ||
Notable Rate Changes
- AT&T Inc
- Boise Paper Holdings LLC
- Clearwire Corp
- Community Health Systems Inc
- DTE Energy Co
- Fortune Brands Inc
- Isle of Capri Casinos Inc
- Keystone Automotive Operations Inc.
- Landry’s Restaurants Inc
- Marriott International Inc/DE
- Pilgrim’s Pride Corp
- Radio One Inc.
- Saks Inc.
- Sirius XM Radio Inc
- Skilled Healthcare Group Inc.
- Standard Pacific Corp
- Tenneco Inc
- Verizon Communications Inc
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other name(s) you may be concerned with.
Please note this list is not exhaustive.
Contact us today for your custom, no-risk bankruptcy protection consultation.
1-888-644-4422 | Trade Risk Strategies
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Rite Aid Bankruptcy Coverage
Bankruptcy Coverage on Rite Aid is Available | Trade Risk Strategies: 1-888-644-4422
Call us or use the form at the right for an immediate quote. Your peace of mind is worth it.
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Rite Aid posts losses in weak quarter
* Q3 EPS loss $0.09 vs $0.10 loss in prior year quarter
* Sales down 2.3 percent to $6.2 bln
* Sees larger year loss of $0.60 to $0.70/share
Rite Aid Corp. posted weak quarterly results as a slow flu season and higher workers’ compensation and insurance expenses hurt its results, the drugstore chain said on Thursday
The third-largest U.S. drugstore operator also darkened its full-year outlook to a loss of 60 cents per share to 74 cents per share, from a prior forecast for a loss of 46 cents to 67 cents.
Rite Aid reported a net loss for the third quarter, ended Nov. 27, of $79.1 million, or 9 cents per share, compared with a loss of $83.9 million, or 10 cents per share, for the same quarter a year ago.
Sales were down 2.3 percent to $6.2 billion. Sales at stores open at least a year were down 1.3 percent.
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
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Blockbuster Post Petition Bankruptcy Protection
Post Petition Bankruptcy Protection on Blockbuster is Available
Use the form at the right or call us at 1-888-644-4422 for an immediate quote. Your peace of mind is worth it.
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Blockbuster plans to close 182 stores by April
Bankrupt video rental chain Blockbuster plans to close 182 stores by the end of the first quarter of next year as it tries to find a way back on its feet.
The largest U.S. video rental chain plans to close 72 stores by January 1 and 110 more in the first quarter of 2011, according to documents filed on Friday in Manhattan’s bankruptcy court.
Blockbuster filed for bankruptcy in September, weighed down by its debts and stung by video-on-demand and competitors such as mail-order pioneer Netflix and Redbox, a Coinstar Inc unit that rents movies through kiosks.
Blockbuster has closed about 1,000 stores in recent years as it tries to cut costs, but still had about 2,900 in the United States when it filed for bankruptcy.
The company is renegotiating leases with thousands of landlords, said Patricia Sullivan, a Blockbuster spokeswoman.
She said the company will emerge from bankruptcy by the beginning of the second quarter of next year, with fewer but more profitable stores.
The company entered bankruptcy with a plan that would put billionaire investor Carl Icahn and his hedge fund partners in control of the company when it emerges.
Post Petition Bankruptcy Protection on Blockbuster is Available | Call Trade Risk Strategies: 1-888-644-4422
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Burlington Coat Factory Bankruptcy Protection
Bankruptcy Protection on Burlington Coat Factory is Available | Trade Risk Strategies: 1-888-644-4422
Use the form at the right or call us for an immediate quote. Your peace of mind is worth it.
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Burlington Coat Factory’s sales dip in 3rd quarter
Burlington Coat Factory Investments Holdings Inc. says sales for the third quarter ticked down 1.6 percent to $858.2 million, compared with $872.4 million for the same period a year ago.
The discount retailer blamed unusually warm weather in September and October for the turndown.
In a statement, CEO Tom Kingsbury said cold weather is driving sales up.
“Following our third quarter performance, as the temperatures returned to normal seasonal levels in November, we are very pleased with the level of comparative store sales that we have achieved,” he said.
For the first three quarters, net sales are up 3.3 percent.
Bankruptcy Protection on Burlington Coat Factory is Available | Call Trade Risk Strategies: 1-888-644-4422
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Borders Bankruptcy Protection
Bankruptcy Protection on Borders is Available | Trade Risk Strategies: 1-888-644-4422
Use the form at the right or call us for an immediate quote. Your peace of mind is worth it.
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Borders ‘just trying to stay alive,’ analyst says
The holiday shopping season may determine whether financiers are willing to help Borders Group Inc. get the credit it needs to survive without turning to court-based restructuring, a retail industry analyst told Reuters.
With just over a week until Christmas, Borders needs every shopper it can find. The Ann Arbor-based book store chain said last week that it may face liquidity problems in the first quarter of 2011, a crisis that could threaten its ability to conduct its day-to-day business.
“They’re just trying to stay alive at this point,” Standard & Poor’s analyst Michael Souers told Reuters. “Hopefully, their numbers can improve enough to get someone to want to lend them more money.”
One of Borders’ top shareholders, New York hedge fund manager Bill Ackman’s Pershing Square Capital Management, has said he’s willing to help Borders finance an acquisition of rival Barnes & Noble in an effort to consolidate costs and achieve profitability.
Borders employs about 600 people at its Ann Arbor headquarters.
But another analyst suggested that solution doesn’t make sense because Barnes & Noble could swoop in and snatch the most valuable remains of Borders if the Ann Arbor company has to file for bankruptcy.
“If one wanted to go after the other’s real estate, they could just wait until bankruptcy and pick them off on the cheap,” Morningstar analyst Pete Wahlstrom told Reuters.
Borders employs about 600 workers at its Ann Arbor headquarters and more than 19,000 at about 600 stores.
Reporting its third-quarter sales last week, the firm recorded a third-quarter net loss of $74.4 million, doubling its loss from the same period in 2009. Borders said that its revenue declined 17.6 percent to $470.9 million and that sales at stores open at least a year dropped 12.6 percent, reflecting a continuous revenue slide.
Bankruptcy Protection on Borders is Available | Call Trade Risk Strategies: 1-888-644-4422
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Trade Credit Insurance vs. Risk of Self Insuring
| Self insuring is the concept that a business sets aside cash to cover losses incurred due to the default of outstanding receivables. In today’s volatile and uncertain economic climate, there is very good reason to not self insure and every reason to protect your company with trade credit insurance. The primary reason one should not self insure is due to loss of leverage. ‘Leverage’ is the concept of getting an exponential return on your resources through the services of a third party as in the case when you take out a trade credit insurance policy.
In a self insurance situation, you are tying up the entire amount of the receivable in question for the entire term of the contract. In other words, your cash is already earmarked to cover your loss in the event of a customer default. On the other hand, with trade credit insurance, you use a fraction of the total value of that contract to protect you against default, allowing you to maintain a cash buffer for miscellaneous expenses. Companies who do not maintain enough leverage in their day to day operations are companies who are not in a position to take advantage of unexpected opportunities. They are also far more exposed to financial disaster. Companies who self insure instead of using trade credit insurance can find themselves in a position where a big loss freezes their ability to expand (or even to operate as normal). That’s the beauty of using trade credit insurance – the cost is just another expense and you never have to fully absorb a loss to your bottom line. In today’s business world, we are seeing a great deal of financial turmoil. The problem for a company who sells goods or services business-to-business without trade credit insurance is the exposure to every financial interruption faced by each and every client. While your company may sell software at the OEM level, your client may provide that software along with service to a mortgage lender who is going bankrupt. Your only way of knowing this is to maintain a large staff to examine the details of a client’s finances, as well as investigate the day to day operations and details of how your clients make their money. Trade credit insurance provides the leverage for a company to use a fixed amount of money to defend against a much greater potential loss. Along with this, it allows a company to stick to its core business instead of delving into the expensive process of learning and monitoring each intimate financial detail of every individual client. Have a question or comment about trade credit insurance? Feel free to contact us using the form to the right or call Trade Risk Strategies 1-888-644-4422. Copyright © 2010 | All Rights Reserved |
Notable Company Bankruptcies 11/04/2010: Was your company protected?
Notable Bankruptcies 11/4/2010
- Amazai Textile Mills Ltd
- American West Bank Corp
- MOA Hospitality Inc
- Mueller Electric Co Inc
- Wolverine Tube Inc (post petition coverage is available)
Notable Rate Changes
- ACE Cash Express Inc
- Advanstar Inc
- Blockbuster Inc
- BorgWarner Inc
- CommScope Inc
- General Motors Holdings LLC
- HCA Inc
- Language Line Services Holdings Inc
- NCL Corp
- NetFlix Inc
- Syniverse Technologies Inc
- Tower International Inc
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other name(s) you may be concerned with.
Please note this list is not exhaustive.
Contact us today for your custom, no-risk bankruptcy protection consultation.
1-888-644-4422 | Trade Risk Strategies
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Blockbuster Critical Vendors
Tο Blockbuster Critical Vendors:
Sіnсе Blockbuster filed fοr bankruptcy аnd established a limited, ѕο-called “critical vendor” payment рlаn, (pursuant tο whісh, сеrtаіn vendors саn gеt paid іn-whole οr іn-раrt οn thеіr pre-petition accounts receivable), wе hаνе heard varying interpretations οf thе risks remaining tο vendors whο аrе paid аѕ “critical vendors”.
In short, partial οr full compensation fοr pre-petition claims frοm Blockbuster commits thе “critical vendor” tο ship tο Blockbuster οn thе same business аnd credit terms until thе bankruptcy case comes tο a close bу еіthеr (i) a successful restructuring οr (ii) a liquidation. Thіѕ means, even іf уου become aware thаt Blockbuster wіll liquidate, YOU MUST CONTINUE TO SHIP THEM οn thе same terms οr forfeit уουr pre-petition compensation аnd submit yourself tο further legal action.
If уου рlаn tο re-coup ANY οf уουr pre-petition claim аѕ a critical vendor, protect уουr MANDATORY post-petition shipments using credit рυt option protection.
Call Trade Risk Strategies fοr further information | 1-888-644-4422
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Notable Company Bankruptcies 10/26/10: Was your company protected?
Notable Bankruptcies 10/5/2010
- Rocky Mountain Holdings LLC
- TCB Holdings Corp
- Terrestar Networks Inc
Notable Rate Changes
- Burger King Corp
- BWAY Corp
- Getty Images Inc
- H&R Block Inc
- Massey Energy Co
- Simmons Foods Inc
- Tower International Inc
- United Rentals North America Inc
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other name(s) you may be concerned with.
Please note this list is not exhaustive.
Contact us today for your custom, no-risk bankruptcy protection consultation.
1-888-644-4422 | Trade Risk Strategies
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Trade Credit Insurance vs. Exim Bank Restrictions
| Companies seeking to mitigate their risk on foreign receivables sometimes find themselves having difficulty in differentiating trade credit insurance from the services offered by Exim bank. On the surface, there appears to be little difference in the function of Exim bank compared to private firms offering trade credit insurance. Exim bank was established as the Federal Government’s way of trying to help businesses offset risk and actively encourage exports of American goods. |
Some services offered by Exim bank parallel those offered by trade credit insurance firms. However, the major difference in the two is the simple fact that the Exim bank is a part of the US Government, and anything attached to the federal government means regulation. The drawbacks of using the services of Exim bank are many. In addition to the high expense typically associated with an Exim bank policy, as a part of the US Government, Exim bank has numerous regulatory hurdles that must be overcome, while trade credit insurance is a simple contract between two private companies allowing for the most flexibility. Additionally, Exim bank has on more than one occasion received negative press indicating that it discriminates politically by offering its services to those special interests that powerful political groups favor while leaving those without such connections to fend for themselves.
Any company trying to decide between the services of the Exim bank and acquiring a trade credit insurance policy privately would do well to consider the political ties of the Exim bank. A company wishing to control its risk without being forced through extra regulatory hoops or being required to do business with only those parties favored politically would do well to keep in mind that a private trade credit insurance policy allows a company greater flexibility to do business as they are usually accustomed. Using Exim bank can mean the possibility of navigating a political swamp causing frustration for policyholders.
Have a question or comment about trade credit insurance? Feel free to contact us using the form to the right or call 1-888-644-4422.
Copyright © 2010 | All Rights Reserved
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Credit Insurance: Impact of Bad Debt Loss
What does it really cost your company when your customers fail to pay you? The truth can be shocking. Let’s examine multiple scenarios and the impact on sales due to loss without credit insurance. |
| LOSS AMOUNT & MARGIN | SALES REQUIRED TO BREAK EVEN |
|---|---|
| $50,000 loss @ 4% margin | $1,250,000 |
| $100,000 loss @ 4% margin | $2,500,000 |
| $500,000 loss @ 4% margin | $12,500,000 |
| $1,000,000 loss @ 4% margin | $25,000,000 |
| LOSS AMOUNT & MARGIN | SALES REQUIRED TO BREAK EVEN |
|---|---|
| $50,000 loss @ 8% margin | $625,000 |
| $100,000 loss @ 8% margin | $1,250,000 |
| $500,000 loss @ 8% margin | $6,250,000 |
| $1,000,000 loss @ 8% margin | $12,500,000 |
| LOSS AMOUNT & MARGIN | SALES REQUIRED TO BREAK EVEN |
|---|---|
| $50,000 loss @ 15% margin | $333,000 |
| $100,000 loss @ 15% margin | $666,000 |
| $500,000 loss @ 15% margin | $3,333,000 |
| $1,000,000 loss @ 15% margin | $6,666,000 |
These charts illustrate the break even point, in other words, how much additional sales would be necessary in order to break even on a given loss. The impact for many companies to replace these sales can be severe depending on the size of the loss relative to the size of the company. Keep in mind these scenarios assume only one loss at a time – if there are multiple losses within the same year, the effect can be devastating. Simply plug in your own margins and determine the impact unexpected losses can have on your sales, operational costs & cash reserves.
Credit insurance can help prevent these realities from negatively impacting a business. Premiums are easily justified when looking at the excessive costs of not insuring. These charts illustrate the point that credit insurance makes sense for companies who put themselves at risk selling on open credit terms to their customers.
Have a question or comment about trade credit insurance? Feel free to contact us using the form to the right or contact us directly at 1-888-644-4422.
Copyright © 2010 | All Rights Reserved
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Notable Company Bankruptcies 10/5/2010: Was Your Company Protected?
Notable Bankruptcies 10/5/2010
- Daiwasystem Co Ltd
- Superior Acquisition Inc
- Takefuji Corp
Notable Rate Changes
- AirTran Holdings Inc
- Alberto-Culver Co
- Ames True Tempter Inc
- Dynegy Holdings Inc
- Harman International Industries Inc
- Healthsouth Corp
- Loehmanns Corp
- Metaldyne Corp
- Siruis XM Radio Inc
- Southwest Airlines Co
- Starwood Hotels & Resorts Worldwide Inc
- TransDigm Inc
- UCI International Inc
- United Components Inc
- United Continental Holdings Inc
- XM Satellite Radio Inc
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other name(s) you may be concerned with.
Please note this list is not exhaustive.
Contact us today for your custom, no-risk bankruptcy protection consultation.
1-888-644-4422 | Trade Risk Strategies
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Trade Credit Insurance: Improved Bank Financing Terms
Companies use trade credit insurance to improve their relationship with their lenders. Domestic and export receivables insured with trade credit insurance can be used as collateral for a loan providing excellent security and comfort to commercial lenders.
Absent of a policy, banking underwriters typically exclude accounts receivable from the borrowing base, particularly excluding receivables that are concentrated in too few large accounts. Export receivables are also excluded, but the good news is these exclusions are immediately lifted with trade credit insurance on the books.
Banks use the security of insured domestic and export accounts receivable to advance capital to the borrower at favorable rates and at a low cost of funds — up to 50 basis points or more below the cost of conventional trade finance rates and advance rates as high as 90-95%. At these levels, businesses can raise more capital for use in any area of the business – expansion, investment, pension fund support, or even returning capital to shareholders. Trade credit insurance used as a borrowing tool becomes a win-win situation for both parties, with the borrower receiving additional working capital while the bank enjoys the benefits of a more satisfied client, and in many cases, a higher return on the capital advanced.
Example: US Export Company
Available Financing Before a Trade Credit Insurance Policy:
Sales: $30,000,000
Domestic Receivables: $2,500,000
Export Receivables: $1,000,000
Domestic Advance Rate: 70%
Export Advance Rate: 0%
Maximum Borrowing Allowed: $1,750,000
If this company were to purchase an $80,000 trade credit insurance policy, the bank would increase the domestic advance rate from 70% to 90% and increase the export advance rate from 0% to 90% as follows:
Available Financing After a Trade Credit Insurance Policy:
Sales: $30,000,000
Domestic Receivables: $2,500,000
Export Receivables: $1,000,000
Domestic Advance Rate: 90%
Export Advance Rate: 90%
Maximum Borrowing Allowed: $3,150,000
The net effect here is an additional $1,400,000 in available capital at a cost of just $80,000 in premium for trade credit insurance.
While advance rates and policies vary from bank to bank, the borrower is certain to receive a more attractive package from a lender with a trade credit insurance policy securing the accounts receivable collateral for the loan.
Have a question about trade credit insurance? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Credit Insurance NY
Are you a New York business looking for credit insurance? You’ve come to the right place — we’re New York based credit insurance experts!
You’ve Made The Sale – Now Guarantee The Payment!
Making the sale is only part of the equation – getting paid is the other. But with the current economic crises in full swing, payment defaults are at an all time high. Insolvencies, credit crunches, bankruptcies… all are taking their toll on the timely receipt of receivables due.
If your New York business is among the many trading on open terms, there is no better time than now for protecting your cash flow from losses due to customer default or non-payments.
Accounts Receivable – An Integral Part of Every Balance Sheet
Your credit decisions directly affect a number of critical business functions, especially cash flow, profitability, and loss avoidance. Make just one mistake, or misjudge one key account, and your bottom line could be facing disastrous consequences.
On the other hand, restrict your credit too tight, and your trading partners will take their business (and their money) elsewhere.
Talk about being caught between a rock and a hard place!
Considering the vital importance of maintaining a steady cash flow, it’s a wonder accounts receivable are still one of the last major assets a company will leave uninsured.
Practically Eliminate Bad Debt Risk – Both Domestically and Internationally
By using our properly structured credit insurance policy, companies like yours can greatly minimize the risk of non-payment losses.
No longer worried about if and when you’ll be paid, you can concentrate on what’s important: Freely selling to both new and existing customers, domestically and internationally, without worry or fear of defaults.
Credit Insurance Benefits
- Avoiding Catastrophic Bad-Debt Losses
- Risk Protection against Slow Payers, Non-Payers, Bankruptcies & Political Upheavals
- Reducing or Entirely Eliminating Bad-Debt Reserves
- Safely Expanding Your Sales to New & Existing Markets
- Eliminating Letters of Credit
- Preferred Bank Financing & Increased Lines of Credit
- Reduces Your Collection Costs
- Maintains Investor Confidence in Your Company – and Your Judgment!
Start Insuring Your Crucial AR Assets Today!
Without credit insurance, if disaster strikes… it’ll be too late.
Don’t wait for the worst to happen. One quick phone call to our New York office will get you started: 1-888-644-4422.
Or, if you prefer, just fill out our on-line form to the right and we’ll be happy to get in touch with you.
Be proactive – and be secure.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Credit Insurance: The 80/20 Rule
Does your company trade with a few large customers? Is the majority of your revenue from only a handful of companies? If so, you may be exposing your business to significant financial risks.
A business is considered highly concentrated, for example, when approximately 80% of a company’s sales is generated by 20% of the total customer base. In other highly concentrated situations, one buyer might make up as much as 30 to 40 percent of total sales. If either of these situations hold true for your business, you could be putting your cash flow at risk without credit insurance.
Companies in highly concentrated situations like these don’t often think about the impact a loss could have to their businesses until it’s too late – and other companies avoid the issue altogether. Yet others plan ahead and absorb the risk themselves by self-insuring and setting bad-debt reserves at extraordinary high levels in the event of a large default. The problem with self-insuring to cover a large loss is that it really doesn’t make accounting sense to set reserves at a level in line with accounts receivable. It’s also doesn’t make sense to subject a company to the potential of such losses particularly when capital reserved for bad-debt reserves could be reinvested into other areas of the business.
Premiums for credit insurance more than justify the coverage. Companies can leverage their premium dollars in ways they are unable to do so when they self-insure. If a self-insured business requires $1,000,000 in coverage on customer X, the business would need to set aside $1,000,000 in reserve capital to offset a loss if customer X defaults. That’s a lot of capital to tie up! On the other hand, credit insurance would only cost the company $10,000 in tax-deductible premium for the same amount of coverage – that’s a big difference!
Many executives are realizing the benefits of credit insurance as a cost effective solution to reduce high concentrations of risk, free up bad-debt reserve capital, and protect the bottom line from catastrophic losses. Companies with credit insurance are able to balance their portfolios without concern of a major account interrupting their cash flow, or in some cases, putting them out of business.
Have a question about credit insurance? Ask us! Feel free to call us at 1-888-644-4422 or contact us directly by using the form to the right.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Notable Company Bankruptcies 9/27/2010: Were you protected?
Notable Bankruptcies 9/27/2010
- Blockbuster Inc
- Coast Crane Co
- American Pacific Financial Corp
- Thompson Publishing Group
Notable Rate Changes
- Atlas Pipeline Partners LP
- Blockbuster Inc
- Compucom Systems
- Continental Airlines
- Lear Corp
- Moghan Tribal Gaming Authority
- Standard Oil Co
- Texas Instruments
- United Airlines
- Waterford Gaming LLC
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other names you may be concerned with.
• Bon Ton
• Burlington Coat Factory
• Duane Reade
• Dillard’s
• Dollar General
• Ford
• Goodyear Tire and Rubber
• JC Penny
• Jones NY
• Kmart
• Kroger
• Lucent Alcatel
• Macy’s
• Michaels
• Neiman Marcus
• Office Depot
• Rite Aid
• Safeway
• Sears
• Sprint Nextel
• Supervalu Inc
• Target
• Toys R Us
Contact us today for your custom, no-risk consultation.
1-888-644-4422 | Trade Risk Strategies
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Blockbuster Post Bankruptcy Coverage Now Available
Post-petition coverage on Blockbuster is available with 100% coverage for 6 to 12 months. Coverage converts to prepetition coverage upon emergence.
Please call 1-888-644-4422 or email with interest.
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Credit Insurance: The Time Is Now
|
We are quickly moving through the year with many questions and uncertainties. Company bankruptcies are on the rise. Payment default is at an all time high. For businesses trading on open credit terms, there hasn’t been a better time to protect cash flow from losses due to customer non-payment default. |
Accounts receivable are an important component of any company’s balance sheet. Cash flow, profitability, and loss avoidance are affected by how well credit decisions are managed. For many businesses, accounts receivable are one of the last major assets left uninsured. Make one bad credit decision and a catastrophic loss could have a serious impact to the bottom line. On the other hand, be too credit restrictive and customers will take their business elsewhere.
Today, having accurate financial information and making proper credit decisions are critically important in protecting cash flow from sudden losses and maintaining a financially strong business. In the United States alone, the number of bankruptcies continues to rise, with over 60,000 corporate bankruptcies filings projected by the close of 2010. These are staggering numbers, considering in 2009 there were 55,000 business filings, and in 2008 over 34,000 filings, according to the Administrative Office of the US Courts. But bankruptcy is only part of the problem. There are businesses operating today that are considered financially distressed, paying habitually slow, which, for the company holding the delinquent receivables, can cause significant cash flow problems and/or unexpected business interruption, and in some cases, outright failure.
While this reality may sound bleak, it doesn’t have to be this way. If your company ships on open credit terms to your customers, there’s no reason to shoulder the risk yourself. Credit insurance can help your company protect itself from these unexpected events. In exchange for premiums between .25 – 1% of annual sales, your credit insurance policy lets you transfer the risk of “doing business” to another entity, guaranteeing that you’ll be paid for the products and services you sell. Using it as a sales tool, you can ship freely to existing customers without risk of loss, while creating brand new opportunities selling to customers who were considered too risky in the past. Whether selling domestically or abroad, credit insurance can easily help you gain market share over competitors who restrict their own sales because they don’t have the same insight as you, and do not yet have credit insurance protecting their own accounts.
With the benefits associated with credit insurance, and there are many, it’s a product that is often misunderstood. Oftentimes, when credit and financial executives enter into discussions about credit insurance, a general assumption is made that customers with long time, positive trading histories will never default.
Here are some typical responses from executives regarding the subject:
- “I’m not worried about our major accounts, we’ve been doing business with these customers for years.”
- “Our key buyers never miss a beat and always pay within terms. We have great relationships with all of them.”
- “If any of my top customers filed bankruptcy tomorrow, it would hurt not only my business, but every one of my competitors businesses as well. That’s the only insurance I need.”
While the confidence these executives have in their customers’ ability to pay their trade obligations is understandable, the justification is not. This is because credit insurance companies see an entirely different story. Businesses of all shapes and sizes, no matter where they trade, experience pressure from many sources — shrinking margins, higher operating costs, stiff competition, and poor collection recovery on their own receivables. Any one of these conditions can develop into significant cash flow problems for any business causing that “perfect trading relationship” to fail unexpectedly.
A company’s ability to pay their trade obligations has very little to do with how large they are or how long a trading relationship has been established. Today’s economic and financial pressures can take down even the largest 600lb gorilla – and any supplier without protection on their accounts receivable could easily experience business interruption or outright failure, particularly in highly concentrated situations.
Credit insurance companies are seeing business defaults more frequently than any other time in history. To offset the effect of this for policyholders, accurate and up to date trading histories on companies are maintained, identifying firms that are habitually delinquent in paying their suppliers. This is critical information – as it provides an early warning system to policyholders to help with their credit decisions. This data also allows credit insurance companies to analyze trends and identify companies that may have just defaulted with other vendors. History shows that even if these defaulting companies continue to pay only a handful of suppliers, they’ll likely stop paying all their vendors in the near term.
For the executive who believes to have a stellar trading history with a large, key account, how valuable would this information be upon discovery that this same account recently defaulted on payments to 30 of their other suppliers? Priceless, especially when it’s realized that they’re probably next in line.
Partnering with the right trade credit insurance company with access to critical buyer information can help steer a business away from unnecessary financial risk. This kind of business intelligence combined with credit insurance protection makes smart business sense for today’s corporations.
Have a question about credit insurance? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
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Accounts Receivable Financing: Immediate Cash Flow
 Most people following the financial markets know that since the banking crisis hit our country, the banking industry and capital markets have changed the way they do business.
Today, it’s a bit more difficult for corporations to borrow or obtain open lines of credit as they did in the past. Many companies are unable to qualify for traditional bank lending due to stricter borrowing requirements, making it a challenge for these companies to satisfy their funding needs. |
Other hurdles to overcome include lenders requiring their clients to bring their available credit lines current, making it difficult for these businesses to access cash as conveniently as before.
Even with fewer financing options available today for businesses, the good news is there are alternatives. Companies can now obtain the cash they need without the restrictions imposed upon them from the banking community by simply leveraging their accounts receivable for an immediate, ongoing influx of cash.
Accounts Receivable Financing, also called Factoring, is a great option for companies who wish to leverage their accounts receivable assets to obtain ongoing cash advances without having to wait 30, 60, 90, 120 days, or even longer, to get paid from their customers. In fact, depending on the program chosen, the cash advanced for each receivable is fully guaranteed by the financing company regardless of whether the customer fulfills their obligations.
The beauty of this type of receivables program, in addition to the cash, is that the collections efforts if each receivable is automatically transferred to the accounts receivable financing company, allowing businesses the opportunity to focus on their core competencies and not have to worry about the inefficient results of the collections process. Imagine that for a second – companies who finance their receivables are no longer responsible for chasing after their customers for payment. Revolutionary.
Have a question about accounts receivable financing? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
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When Credit Insurers Say No: Credit Put Options Say Yes
Your company is a supplier for Blockbuster and you’re about to fulfill a large purchase order on behalf of the retail giant. You call your broker to buy credit insurance and you are informed that none of the credit insurance companies are willing to cover Blockbuster due to the high risk involved. Upon hearing the news, you decide to take a chance and ship their order without any form of advance payment or payment guarantee. It’s Blockbuster after all, you want their business! On September 23, 2010, Blockbuster files bankruptcy, and to your surprise, you are left with a huge sum of money (receivables) that will remain unpaid and open for months, maybe even years to come.
This scenario happens all too often. Commercial trade can be risky business.
Credit Insurance is a fantastic business tool when it’s available. Credit insurance pays a supplier when a covered company cannot honor their obligations, including when bankruptcy is filed. The problem in recent years has been that credit insurers have become selective with the companies they underwrite, particularly steering clear of underwriting coverage on financially distressed companies – such as Blockbuster, and others. Until recently, a supplier had no option other than to assume the risk themselves once credit insurers denied coverage. But with this risk comes the uncertainty of not knowing if their uninsured customers will fail to pay what they owe. Not a great way to do business – particularly at a time with a country in recession and retail industry in decline. For some suppliers, a big loss could have a catastrophic effect. In the case of Blockbuster, there are likely many suppliers who took the chance and shipped large volumes of goods to Blockbuster on ‘open credit’ just before bankruptcy was filed. The cash flow of these companies will be put at serious risk. The fact is, it could have been avoided with proper planning.
A new, highly specialized product called Credit Put Options give suppliers an alternative to credit insurance, particularly for risky accounts. Credit Put Options are simple contracts between the seller (supplier) and the credit put purchaser (major financial institution). The supplier pays a fee for specified receivables during the contract period. If the supplier’s customer files bankruptcy during the contract period, the put option is exercised and the supplier is automatically paid 100% face value of the covered receivables.
Credit Put Options have the following considerations:
Benefits: Credit Put Options are available on distressed companies (unlike credit insurance) and provide 100% coverage with no deductible or co-insurance. Coverage term is flexible, usually between 6 to 12 months, at the seller’s option. Credit Put Options are non-cancelable and do not restrict shipments made to customers with pending bankruptcies. Coverage is available on both private and publicly held companies and contracts can be executed immediately.
Drawbacks: Cost. A Credit Put Option, for example, may carry a fee of 1.25% per month, depending on the risk, at a cost of $75,000 for 12 month term for every $500,000 covered. Rates can be higher or lower depending on when the put option is executed. Credit Put fees are moving targets, fluctuate daily, and are based primarily on the financials of the subject company and the investor’s appetite for risk. Credit Put Options pay claims only upon a straight bankruptcy event. It does not pay claims for any other reason.
The Bottom Line: Credit Put Options are a good alternative when credit insurance is not available. Despite the higher expense, protection provided by a Credit Put Option can help a supplier justify continued sales to a troubled client without taking on risk or shortening credit terms. The supplier can ship confidently to the distressed client company without taking on the risk themselves. A Credit Put Option can also help increase sales as competitors selling without it are forced to lower their credit terms with the client, providing a considerable advantage to the supplier using Credit Put Options over its competition.
Have a question about credit put options? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Rite Aid Sales Disappoint
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
If you are thinking about buying bankruptcy coverage on Rite Aid, you might want to kick it into high gear. Sales revenue for the retailer dropped in September , while most retailers were up significantly (4%-10%).
The performance of Rite Aid is questionable, particularly with 4.7 billion in debt.
Use the form at the right or call us for an immediate quote. Your peace of mind is worth it.
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Rite Aid shares dropped upon the news this afternoon after loss estimate projections for 2011 were revealed. Shares fell to $0.97. The struggling retailer reported a second quarter loss of .23 per share due to its exorbitant health care costs and its attempt to retire large debt loads.
Since 2007, Rite Aid has been saddled with $4.7 billion in debt and it has been further brought down by its acquisition of Brooks and Eckerd drug chain. With the untimely downturn in the US economy, these events have created difficult times for the struggling retailer.
With many stores closing, and its continued efforts to pay down debt and build its private-label brand, the retailer is trying innovative ways to improve sales including store remodeling and customer rewards and perks.
The company is opening a new store concept in South Carolina combining its own products with grocery retailer Sav-A-Lot in about 10 locations to kick off the concept. Rite Aid also expects its various sales initiatives such as immunization training to aid a number of Rite Aid pharmacists providing vaccinations that is expected to help drive the sales of the company in the long term
Rite Aid runs 4,747 stores in 31 states.
Bankruptcy Coverage on Rite Aid is Available | Call Trade Risk Strategies: 1-888-644-4422
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Collect Invoices Faster: The Biggest Challenge for CFO’s
Collections activities are part of every business. As a trade risk professional, we speak with many CFO’s about their challenges as it relates to managing their receivables, and time and time again, the most common concern most CFO’s share is the inability to collect outstanding invoices within a reasonable amount of time. Most companies are subject to the same vicious cycle, where outstanding invoices are paid many days beyond the terms that were originally agreed upon. When customers pay late, it limits access cash, and sometimes the basic operational costs and ongoing funding needs of the business cannot be met.
A recent poll on LinkedIn asked company executives in the New York, New Jersey, Pennsylvania, & Delaware areas to indicate what their biggest challenges were as it relates to managing their accounts receivable. A sampling of 350 CFO’s reported that reducing the number of days outstanding (DSO) was the biggest challenge for them. In other words, they all want to get paid more quickly.
The results of the poll confirmed that not only were companies finding it challenging reducing their DSO, it was also clear that they do not have the right systems in place that could help them get paid sooner. The key to successfully reducing DSO is having access to systems that communicate with debtors in a non-alienating way at the first sign of delinquency. Delinquent customers must be contacted early in the game, utilizing multiple communication channels simultaneously, such as phone calls, direct mail, email, and fax. Sometimes in-person visits are necessary to send the right message. The key to success in collecting funds more quickly is outsourcing these functions to a third party collections agency so employees can concentrate on the core of the business while leaving the collections work to the professionals.
Take your company for example. Imagine if you had the ability to log in to a secure website and enter the names of your debtors that are currently delinquent. How valuable would be if a series of phone calls were made and reminder letters sent to your clients on your behalf, allowing you the ability to jump start the process of recovering your funds early in the process, all without the headache of managing the effort yourself. Imagine having access to status reports online, within a password protected website, summarizing the number of phone calls made, letters mailed on your behalf, and results of each contact. Think about how your cash flow would improve as checks arrive in your mailbox continuously while all of the tedious follow up work is done for you at a fraction of the cost of trying to do it by yourself. Utilizing such a system for your collections process can greatly improve your cash flow situation, significantly reduce your costs, and free up your staff to do other revenue producing jobs within your organization.
Have a question about collections? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Notable Company Bankruptices 8/31/2010: Were you protected?
Notable Company Bankruptcies 8/31/2010
- Harvey Electronics Inc
- Citizens Development Co
- Oriental Trading Co Inc
- Trico Marine Services Inc/United States
- Arm Electronics Co Ltd
Protect Your Accounts Receivable
Credit Put Options help suppliers manage their accounts receivable and working capital exposure to both distressed businesses and investment grade concentrations.
Credit Put Options provide:
- Up to 100% Non-Cancelable Protection
- Flexible Terms from 6 months to 5 years
- Instant contract execution
Below is a small sample of some companies eligible for Credit Put Options coverage. Protection is provided on many names in various industries – please contact us if you are interested in buying protection on one of the names below or any other names you may be concerned with.
• Bon Ton
• Burlington Coat Factory
• Duane Reade
• Dillard’s
• Dollar General
• Ford
• Goodyear Tire and Rubber
• JC Penny
• Jones NY
• Kmart
• Kroger
• Lucent Alcatel
• Macy’s
• Michaels
• Neiman Marcus
• Office Depot
• Rite Aid
• Safeway
• Sears
• Sprint Nextel
• Supervalu Inc
• Target
• Toys R Us
Contact us today for your custom, no-risk consultation.
1-888-644-4422 | Trade Risk Strategies
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Accounts Receivable Credit Put Options
When credit insurance coverage is not available to cover a publicly traded entity (and some privately held companies too), an accounts receivable credit put option may be available to protect a supplier from customer bankruptcy. A credit put option is designed to pay 100% of the bankruptcy loss without any deductibles or co-insurance. The accounts receivable put option is 100% non canceable and can be purchased on either 6 or 12 month terms.
While this form of coverage is more expensive than credit insurance, it provides a huge safety gap for suppliers extending credit to a publicly or privately held company when other credit insurance alternatives do not exist for the buyer.
While many traditional credit insurance companies refuse to take on the risk of certain major retailers, we have the ability to execute contracts immediately without delay. Some major retailers that 100% bankruptcy coverage is available on are: Burlington Coat Factory, Rite Aid, Toys “R” Us, Sears, Kmart, Blockbuster, Office Depot, Office Max, Bon Ton, Borders, Dollar General, Claire’s, Michaels Stores, AC Moore, Staples, Overstock, Best Buy, XM Sirius, HH Gregg, Saks, Neiman Marcus, Dillard’s, JC Penney, Charming Shoppes, Macy’s, Limited, Duane Reade, Home Shopping Network, Stein Mart, Pier 1, Tuesday Morning, Party City, Pacific Sunwear of California, Sprint Nextel, Eastman Kodak. Please note this list is not exhaustive. If your customer is not mentioned here, please contact us with the name of the account, address, and credit limit you are seeking for an immediate quote for 100% coverage.
Have a question about accounts receivable put options? We can help! Feel free to email us using the form to the right or call 1-888-644-4422.
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Business Intelligence: Way Beyond Dun & Bradstreet
Prior to establishing credit terms with a new customer, most businesses will perform due-diligence on a buyer to determine their ability to honor their obligations. The research typically includes evaluating credit reports, trade & bank references, prior payment history, and financial statements.
These methods of credit research are fairly standard but do require a certain level of skill to be able to read, evaluate, and assess financial data to properly establish credit limits for buyers. As you will soon discover – and maybe already know – using these tools does not guarantee results. The challenge many companies have relying solely on these resources is that no matter how acceptable a company may look on paper, there is really no way to determine with any degree of certainty whether the buying company will have financial difficulty in the future. Unfortunately for many companies, the bad news is often discovered too late, usually after the shipments have left the loading dock.
Let’s assume, for example, that a supplier performs their typical research on a buyer and decides to extend them a $500,000 credit limit. The supplier continues to trade with the buyer for several months, and since the buyer’s payment history has proven to be acceptable, the supplier decides to increase the buyer’s credit limit to $750,000. Several months pass with no payment delays and the supplier agrees to extend yet another credit increase to $1,000,000. After all, additional credit means additional revenue for the supplier! Everything seems to be progressing wonderfully, so it seems.
The supplier, like many other companies who get accustomed to timely payments, typically shift their focus from performing ongoing financial research on the buyer to placing emphasis solely on their experience with the customer and their good payment history. Since the buyer pays timely, the supplier sees no reason to pull back the credit line, that is, as long as the buyer continues to pay. This is where the problem often begins.
What the supplier in this example doesn’t know is that for the past several months this very same buyer has completely stopped paying their other suppliers….but they continue to pay their invoices to them like clockwork. Why is this important to know? Well, it’s a direct indication that the buyer is likely up to something – and it isn’t all that good! A possible reason for this scenario is that the buyer could be getting ready to either shut down their operations, or they could be in the process of filing bankruptcy with the goal of reorganizing under a different name. In either case, it’s only a matter of time before the buyer defaults on their obligations to the supplier, leaving them subject to hundreds of thousands or even millions of dollars in unpaid products & services.
So how does a company get the Business Intelligence it needs to access accurate financial information on their buyers and know in advance when to reduce the credit line or eliminate it altogether without getting burned? It’s actually quite simple.
Your staff can gain the business intelligence it needs through advanced credit reporting & monitoring programs that provide direct access to real-time credit ratings on millions of companies worldwide. These credit ratings are established by credit insurance underwriters who evaluate each business and assign a credit rating opinion based on information and advanced knowledge on how each company historically trades with other companies.
Imagine being able to log onto a website, enter your buyer information, and instantly receive the latest credit rating from an experienced underwriter? What if you knew exactly how much credit to give a customer on the fly – knowing that the credit rating you receive is the same credit rating that credit insurance companies use for the benefit of their own policyholders? How powerful would it be to your business to have this comprehensive research work done for you so you can concentrate on your core business and use your employee assets elsewhere?
With real-time information on your customers, you don’t have to worry about the exhausting steps and expense associated with performing your own due-diligence on the companies you want to do business with. Of course, you can always continue to research your buyers as you normally would and simply use advanced credit ratings and monitoring as additional support to your decisions, but let’s take Business Intelligence one step further. Imagine obtaining a credit rating score on a buyer in January, and in April, you receive a monitored email alert notifying you that your buyer’s credit score has been downgraded – or upgraded – and the reasons why. Do you think this information would be valuable to your company as you use it to either extend more credit to your customers or pull back the credit line if the information is derogatory?
From our professional experience, there is nothing better than having a worldwide credit insurance & information organization looking over your shoulder watching over your clients and keeping your company out of harms way. Ask D&B if they offer such a service – it doesn’t exist! D&B is a data mining company and earns fees for selling information. The key difference between D&B credit ratings and credit insurer credit ratings is the vested interest of the company and accuracy of the information. Credit opinions provided by a credit insurer are the same ones used for the benefit of their policyholders, so you can be assured that they are the best credit opinions available anywhere.
Have a question about business intelligence services? Feel free to call us at 1-888-642-4422 or contact us directly by using the form to the right.
Copyright © | Trade Risk Strategies | All Rights Reserved.
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Credit Put Options: Latest Company Coverage
We are actively writing credit put options on many companies not currently qualified for credit insurance.
Please contact us with interest in credit on any of the following companies:
Automotive
American Axle, Arvin Meritor, Dana, Delphi, Dura, Federal-Mogul, Ford, Lear, GM, Pep Boys, Visteon
Plastics/Packaging/Chemicals
Chemtura, Consolidated Container, Constar, Foamex, Graham Packaging, Lyondell, Basell, Equistar, Plastipak, Pliant, Portola, Propex, Solo Cup, Solutia, Tekni-Plex
Print/Paper
AbitibiBowater, Fraser Papers, Idearc, Lyondell, Basell, Equistar, McClatchy, RH Donnelley, Smurfit-Stone
Retail/Consumer Products
AC Moore, ACCO Brands, Best Buy, Blockbuster (US or Canada), Bon Ton, Brick Group, Borders, Burlington Coat Factory, Charming Shoppes, Claire’s, Dillard’s, Dollar General, Duane Reade, Eastman Kodak, Entertainment One, Gander Mountain, HD Supply, HH Gregg, Home Shopping Network, JC Penney, Limited, Liz Clairborne, Macy’s, Michaels Stores, Neiman Marcus, Office Depot, OfficeMax, Overstock, Pacific Sunwear of California, Party City, Pier 1, Rite Aid, Saks, Sears and/or Kmart, Sears Canada, Spectrum Brands, Sprint Nextel, Staples, Stein Mart, Toys R Us (US or Canada), Tuesday Morning, XM Sirius
This is not an exclusive list. Be sure to contact us with your inquiry.
Have a question about credit put options? We can help. Feel free to email us using the form to the right or call 1-888-644-4422
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