In 2022, construction giant Probuild fell into voluntary administration. Despite declaring a 2021 profit of $3.1m, Probuild had a significant negative operating cash flow of $85m, a series of heavy losses on development projects, and began to show telltale signs of being in poor financial shape as early as mid-2021.
Whilst maintaining an outward appearance of success and profitability, it was the data behind the scenes that told the real story of Probuild, with early red flags visible in its deteriorating risk score, risky credit activity and blown-out repayment times, leading to eventual administration in February 2022.
In this case study, we break down the cascade of events that were visible in plain sight using CreditorWatch’s comprehensive data. Track Probuild’s downfall through the numbers with graphs and reports showing the company’s deteriorating payment behaviour, adverse credit activity and amplified credit risk.
Analysing these negative trends shows businesses how to use CreditorWatch’s insights to pinpoint potential issues early, and explains how creditors can manage and avoid high-risk customers.
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