• 31 Jul

    DueCourse In Administration

    DueCourse Limited  have apparently gone into Administration. according to FinExtra the invoice financing fintech platform raised £6.5 million of funding, but have since gone into Administration.

    DueCourse Limited - In Administration

    A quick search at Companies House reveals that the company DueCourse Ltd, registration number 09205274 went into administration on 14 July 2017.

    The company filed accounts to September 2016 that showed a liquid business, with a net worth of £954K. The balance sheet also revealed £905K of cash held by the business.  Whilst no profit and loss account was filed, there was a further reduction in the profit and loss reserves within the balance sheet of £371K, over the year, which could indicate a loss of that amount.

    The accounts showed 5 employees, who will no doubt now be joining the ranks of those seeking jobs within the invoice finance sector.

    The contacts for the Administrators, Leonard Curtis, are shown as Mark John Colman 20 Roundhouse Court, South Rings Business Park, Bamber Bridge, Preston, PR5 6DA and John Malcolm Titley.

    Help For Customers Of DueCourse

    DueCourse  where only recommended to us a few weeks ago as a potential funding option for a difficult client situation, via a contact on social media. We didn't go any further with this as the DueCourse never got back in touch with us. This would appear to have been a fortunate outcome.

    if you are an existing client of DueCourse, or a prospect that was looking at using them, we will be more than happy to help you find an alternative invoice finance provider, and can recommend established businesses there are backed by substantial parent companies to maximise your chances of avoiding a similar situation in the future

    By Glenn Blackman

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