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back to article Credit safety net ripped from under elder IT distie Northamber

QBE Insurance has removed entire lines of trade credit insurance on Surrey-based distributor Northamber, The Channel can reveal. Declining trade at one of the oldest wholesalers of IT gear in Blighty is understood to be the reason behind indemnifier QBE's decision, say our sources. Disties Computers Unlimited (Janson Group) …

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  1. The Godfather
    Coat

    Unrest in Chessington...

    Seems a trifle harsh it has to be said given the balance sheet position. Suspect the information flow is not getting to Insurers interim but this perhaps shows how tight they are now getting in provision of cover...foresee tough times.

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  2. John Smith 19 Gold badge
    Unhappy

    Obvious question is this good, bad or average *relative* to other companies in the sector.

    My guess is not good.

    And that £299m -> £101m is not the right direction. What's the good news? "This year our annual turnover reduced less than in any year in the previous decade."

    Staying debt free is good to a point but loosing all those big names. WTF happened there?

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    1. GaryMorris
      Reply Icon

      Re: Obvious question is this good, bad or average *relative* to other companies in the sector.

      They've been losing big names since 2009 so something hasn't been right for some time. Maybe the vendors aren't happy with the amount of resource Northamber have available to support them or maybe there's another reason.

      Either way, it's hard to understand why an established distributor has been losing tier one vendors consistently over a 4 year period. Something doesn't add up.

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  3. nickyB
    FAIL

    horrible little distie, with horrible management and horrible attitude

    no wonder tosh and fujitsu dropped them.

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