Financial & Legal News

European Pharmaceutical Wholesaler

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Our client is one of the top five pharmaceutical wholesalers in the world, operating in most of the major European markets. The group’s wholesale activities cover many market segments of the healthcare system, including pharmacies, GPs and hospitals.

With a UK headquarters based in the North West, the corporate service divisions support the group’s local business activities and the individual wholesale depots are structured to provide the local facility that customers require, with the support of the central corporate services.

To maintain a high level of provision, investment is continually made within the warehouses and logistic functions with the company’s over-riding aim to be considered as the ‘wholesaler of choice’.

The challenge

The client sought a low-cost bulk debt recovery service providing an efficient, rapid response to new instructions.

In the case of bigger debts, the importance of fast action is crucial. While smaller companies tend to pay on receipt of the first debt recovery letter, debts held by larger companies in economic difficulty often result in legal proceedings, with those creditors first in-line and most ably supported standing the best chance of recovering their debts.

Pearson Solicitors has provided services to this client since 2008 and has a track record of adapting the scope of service provided to meet the needs of the client.

The solution

Pearson is committed to providing a responsive and efficient service, sending debt recovery letters between 24 to 48 hours of receiving the initial instruction from the client.

The bulk recovery service works to recover debts held by the wholesaler’s clients and is structured to be low cost. Pearson also seeks to recover the costs incurred by the client together with interest from the debtor.

Pearson’s support has been successful long-term, with an efficient track record of recovering bad debts for this client through Court proceedings and, when necessary, taking enforcement action.

As the client’s key contact, the service is personally handled by a dedicated solicitor, an integral part of Pearson’s Commercial Litigation team.

The result

Having specialist debt recovery and legal support has enabled the client to minimise bad debts and sustain cash flow to channel towards investment in its warehouses and logistic functions.

The client’s positive experience of the debt recovery service has resulted in a long-term working relationship between the two parties, which has grown over the last seven years.

The success of the long-term working relationship has further cemented Pearson Solicitor’s reputation as one of the region’s leading debt recovery specialists.

Client testimonial

“The excellent service provided by Pearson has enabled us to develop a relationship built on trust and reliable results. We can always count on their persistence and expertise.

“It’s a pleasure to work with the team and I would recommend Pearson Solicitors without hesitation.”

Please note that the information and opinions contained in this article are not intended to be comprehensive, nor to provide legal advice. No responsibility for its accuracy or correctness is assumed by Pearson Solicitors and Financial Advisers Ltd or any of its members or employees. Professional legal advice should be obtained before taking, or refraining from taking, any action as a result of this article.

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