ICSM: River Island's pre-tax loss of £50.1m is a concern to its suppliers

ICSM: River Island's pre-tax loss of £50.1m is a concern to its suppliers

One the high streets big names has posted a massive pre-tax loss causing concerns to their many suppliers. River Island have already closed 20 stores and are struggling to stay afloat after recording a £51m pre-tax loss for the last financial year.

Before a company collapses there are a number of tell-tale signs said Ian Carrotte of ICSM. “Pre-tax losses are an obvious indicator, as are fire sales of stock or property.

"Failure to repay loans as is the case at the moment with the Chinese property firm Evergrande which are on the brink of collapse. But late payment or non-payment to suppliers is a red warning light that should not be ignored.”

About ICSM Credit

ICSM Credit has more than four decades of experience as a credit intelligence group whose members gain inside information about firms in trouble allowing them to avoid bad debts and rogue traders. To join costs less than a tank of fuel - while at the moment there's a special free temporary membership offer during the Covid-19 crisis which gives access to free legal letters. ICSM also has an effective debt collecting service which has a global reach - ask for details from Paul.

For details about ICSM Credit call 0844 854 1850 or visit the website www.icsmcredit.com or email Ian at Ian.carrotte@icsmcredit.com on how to subscribe and to join the UK’s credit intelligence network to avoid bad debts and late payers. Follow ICSM Credit on FaceBook, Twitter and YouTube and Ian Carrotte on LinkedIn.

To keep up to date subscribe to the FREE ICSM Credit Newsletter to hear all the latest insolvency news and to see who has gone out of business click on the orange panel on the top left of the home page of the website www.icsmcredit.com or send an email to Ian.carrotte@icsmcredit.com

For details for the work of the journalist Harry Mottram visit www.harrymottram.co.uk

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