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Cardiff firms in deep debt; BIZBRIEF.

THE scale of bad debt among Cardiff businesses has been revealed in a study by premier Invoice and Asset Based Lender (ABL), Venture Finance.

Around 75% of accountants in Cardiff have seen an increase in clients with bad debt in recent months.

Some 63% of Cardiff respondents also stated that clients had been refused credit from traditional sources such as banks.

And 42% reported clients are now suffering an average of 14 extra days' delay to debt payment, meaning a wait of six weeks for invoices to be paid.
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Publication:South Wales Echo (Cardiff, Wales)
Date:Jun 30, 2009
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