Corporate clients of troubled SCF lender Greensill are waiting to see if a proposed purchase of some of its operating business by New York-based private equity firm Apollo Global Management could offer them a lifeline.
Without the rescue, funding for supplier finance programmes could disappear, leaving at least 40 companies scrambling for the cash to pay suppliers.
Greensill, founded by Lex Greensill (pictured) was once the ‘big beast’ of the supply chain finance sector but now faces insolvency after the withdrawal of insurance backing for its loans prompted key funders of its SCF programmes, such as Credit Suisse and GAM, to pull out.
© Adaugeo Media Ltd
Comments are closed.