Euler Hermes named as trade credit insurer which scaled back cover
Euler Hermes was one of the trade credit insurers that pulled cover on HMV, according to the Telegraph.
No one from Euler Hermes was available for comment.
However, trade credit insurers argue that scaling back cover can protect suppliers to companies in financial difficulty.
Euler Hermes carefully monitors the financial performance of firms that suppliers have a relationship with.
HMV chairman Robert Swannell said: "HMV Group wishes to clarify that, following the peak trading period, credit insurers are reviewing the level of cover they provide on the group.
"While this has resulted in the reduction in the availability of credit insurance to certain of the company's suppliers, our business remains a core channel to market for them. We continue to maintain excellent relations with our suppliers and have had no difficulty in obtaining stock."
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