Just a quick heads up on this story about the withdrawal of Gala Coral Group’s credit insurance by the insurers Euler Hermes. Gala aren’t alone in this, a number of other big retail chains have also had their cover pared back as a result of the current financial situation. Over at Bingo News they have a bit more coverage and a quote from Neil Goulden about the situation. It seems Gala have not been targeted specifically, but are of a number of private equity firms with large debts that have been put in this position by the insurers.
