Press Releases (Archived)

Close Announces brand Integration

As part of the integration of leading factoring and invoice discounting brands Metropolitan Factors and Close Invoice Finance, we are delighted to announce the launch of a centralised regional service centre at Close's existing regional offices in Brighton, East Sussex. This move is intended to provide enhanced client service by combining systems capabilities that will lead to improved communication and an enhanced range of services. This includes Close Net, which allows clients instant access to their account online along with the ability to send invoice schedules, request credit limits and draw down cash. Clients will also benefit from access to a credit insurance service through our non-recourse facilities in Brighton.

The integration will not affect clients on a day-to-day basis and key staff and relationship managers will remain the same. The Metropolitan Factors name will remain as a sub brand within the Close Invoice Finance Group.

David Thomson will take over from Leslie Bland as Chief Executive of Close Invoice Finance in January 2004. He is currently Managing Director of Haywards Heath based Metropolitan Factors and Deputy Chief Executive of Close Invoice Finance.

Commenting on the benefits of the integration, David Thomson said, "It's a win, win situation for all concerned. The integration of the two brands will further enhance our service levels for clients as we continue to upgrade and integrate our systems and it makes strategic business sense for us to centralise our efforts. Having said that, we will be keeping the Metropolitan brand alive as it stands for quality, value and service and therefore fits perfectly within the Close Invoice Finance stable".

Jane Seymour will remain Managing Director of the Brighton office and Peter Flynn, Managing Director of the Newbury office, will assume control of the combined Metropolitan and Close sales function in Brighton too. Andrew Curry, Operations Director at Metropolitan and Allison Ruddock West, Operations Director at Close will be responsible for managing the integration process.

David Thomson continued, "The integration is about working together and working smarter to achieve common goals which will make the Group even more successful. We are already a viable alternative to the high street bank Factors and ahead of our independent rivals but we must ensure that we remain the Factor of choice. But to achieve this we can't just look and sound different we have to act differently too. To achieve this we must build on what we have achieved so far by being dynamic, innovative and by staying focused on our core aims of quality, value and service. We must also continue to be flexible and to continue to develop niche services to meet an increasingly diversified and demanding marketplace".


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