Against a backdrop of an extremely difficult market with less factoring lines being out in place than in previous years, according to FDA statistics, Potential Finance Group Plc has reorganised and restructured its' company to move forward in a more difficult market.
When Potential was set up, the two founding directors, Laurence Rutter and Hugh Craen came from Singer and Friedlander Factors Limited where this business had been set up in 1994 from scratch. During the course of the five years, 2,000 were employed at any one time with the vast majority of the business being done by the principals.
Craen and Rutter left Singer and Friedlander Factors Limited to set up Potential Finance Group Plc in October 1999 during the course of a buoyant market. Eurosales had just published their best ever set of results, had a successful Ј50 million rights issue a week or so before Potential Finance Group Plc was floated on AIM on 4 August 2000.
