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Latest News

Recruitment agencies at risk from debt

by Personnel Today 9 Jan 2001
by Personnel Today 9 Jan 2001

Employment agencies are risking bankruptcy and take-over by going into in to debt in attempts to gain an advantage over competitors, according to research by Plimsoll Publishing

The survey of 1,000 recruitment agencies found that 84 per cent were in debt, with over half increasing their level of borrowing last year. Only 144 companies showed no debt at all. 35 per cent of businesses owed over £360,000 to debtors – double the national average.

David Patterson, general manager of Plimsoll, said, "Companies with high levels of debt are vulnerable because they have no backup, so are at risk of being snapped up by cash-rich competitors looking to invest surplus revenue. Businesses using debt just to stay in the game should watch out."

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www.plimsoll.co.uk

By Matt Adey

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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Personnel Today
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