Insight Data’s latest analysis of the fenestration industry in the UK. highlights thousands of companies posing a high credit risk.
Insight analysed the credit rating of 9,075 fabricators and installers and found that 353 fabricators and 685 installers had a high or very high credit risk.
Jade Greenhow, Operations Director of Insight Data said: We reviewed the financials of over 9,000 companies and 12% were rated as high-risk companies. If we used the same measurement across the entire industry that means 1,688 fabricators and installers could be in financial trouble. The major concern is this data precedes the coronavirus pandemic, so the financial position will have worsened significantly, and this could lead to a serious bad debt situation for suppliers.
However, Insight Data’s analysis also pointed to 59% of fabricators and 53% of installers as healthy with a low credit risk.
Jade added: It is clear there will be a period of instability and some companies will disappear while others become stronger. As we move towards a recovery, suppliers will want to assess their customers and potential customers to minimise bad debt risk.
Insight Data tracks the business and financial activity of the window, door and conservatory industry, providing business intelligence to help suppliers identify and target their ideal customers. As well as detailed contact information, Insight records the products that companies manufacture or install, product volumes, profile brands, sectors and more.
The information is continuously updated and users access the information via Salestracker, an online database that is ideal for marketing, sales and customer services teams.
Salestracker also provides key financial information, including credit rating, net worth and details of any County Court Judgements. Users can even set up alerts, to advise them if any customers or prospects have a change in credit status.