Interserve - the next Carillion?

Discussion in 'SMB' started by Secret Visage, Jan 17, 2018.

  1. All the fat bastards at work been complaining cos the vending machines are not being topped up.
    Frijj likes this.
  2. Never actually worked for these :eek:

    Refused to price work for them a few month ago mind, fuckers wanted 65 days payment terms

    Yeah mate will all the press about you we’re bound to do that
    muggboots, Frijj and Lambchops like this.
  3. Lambchops

    Lambchops Striker

    One of the powers that be at our place have granted our biggest client 120 days terms - then wondered why I went ape shit when it was dropped on me in a call
    muggboots and Frijj like this.
  4. SPUFF

    SPUFF Striker

    Why the feck should anyone require 4 months!
    royalmush83 likes this.
  5. Lambchops

    Lambchops Striker

    I have no idea - in the last few years they've gone 90-105 now 120. Only the Uk operations mind, the US and European entities are still on 90
  6. Sam Handwich

    Sam Handwich Winger

    Brexit IIRC
  7. Goat Eyes

    Goat Eyes Striker

    Depends what you do for them I suppose.
  8. Lambchops

    Lambchops Striker

    :lol: not in this instance, they have moved some activities that used to be carried out in the Uk to other Euro entities though due to supply chain disturbance worries
    Last edited: Mar 15, 2019
  9. Wilfy

    Wilfy Striker

    They’ve asked us yesterday to price a job that they are in for down Darlington way. I’ll give Esh and Kier one price and them a higher price. If they are still around after today and win the job, the negotiating of terms will be interesting.
    Napoleon Dynamite and muggboots like this.
  10. Goat Eyes

    Goat Eyes Striker

    We have a maximum turn around of 30 days now but usually the same week.

    At HP I owed one supplier £56k, not a fortune in the grand scheme of things but also not insignificant. The invoice came in in January 2014 and it got paid as the account closed and I got made redundant in January 2015. Well I say it got paid, I have no clue as I got made redundant.
    Lambchops likes this.
  11. Lambchops

    Lambchops Striker

    :D not at you being made redundant mind.

    It seems a lot of the vendors payment terms are country specific - most of ours in the UK, France, Germany etc are 30-60 days, get into Slovakia etc and you're looking at 7-14
  12. Goat Eyes

    Goat Eyes Striker

    Aye, it was 90 days at HP.

    The UK government were chuntering on about changing this a few years ago, nowt happened.

    The upshot is you end up with the likes of Carillion who over invest and over finance on cash flow that’s not really theirs.

    The result is they go bump and take shit loads of others with them.
    Lambchops likes this.
  13. Middle East 120-180 !
    Goat Eyes likes this.
  14. Lambchops

    Lambchops Striker

  15. They’ll be around, either as the existing company or as a new co bought pre-pack by the lenders.
  16. what field you in Wilf ?
  17. SPUFF

    SPUFF Striker

    Fitout iirc.

    Problem with even say 60 days is you can do a canny size project (200k easy) in 11 weeks before a pennies paid back.

    Like school holiday price hikes etc the government will talk shite n do feck all.

    Sure I heard Germany is a fortnight strict payment. At least that way you can pull men off (fnarr) before youre absolutely fecked.
  18. Wilfy

    Wilfy Striker

    As @SPUFF says, we fit out specialist furniture. From what I’ve heard this week, Kier are going to take a massive hit on one of their recent projects. They’ve publicly said £25m but it’s going to be a lot more than that from what I gather. We worked on that project and it was meant to be a 26 week program for us but it went on 18 months before we told them enough is enough. All the senior management team got sacked in the end as well.
  19. SPUFF

    SPUFF Striker

    At the minute its difficult to tell if these firms are okay to work for wilfy or sit on your hands/cash.

    Found out the hard way.

    Often like just lending a stranger 40 grand!:lol:
  20. Frijj

    Frijj Striker Contributor

    I (obviously) am terribly naive about how businesses work. Why would anyone accept waiting four months for payment?

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