21 Feb, 2008
Packaging and Distribution has become the latest distributor to
step in and assist brokers and satellites left in the lurch by
problems faced by the rumoured closure of LMS Packaging.
The Barnet based packager, will assist with re-types of
valuations, case progressing and help with opening communication
channels between lenders and brokers using their strong lender
relationships for all lenders that are currently on both the KGB
and LMS panels.
Rachel Bancroft, managing director of KGB Packaging, says: "These
are very difficult and challenging times for our industry. We very
much regret to hear about the problems at LMS and we would like to
do anything that we can to support the broker community affected.
We are in a strong position and moving forward we are very eager to
do business and look at new satellite arrangements where
"We have a very wide panel of lenders with whom we have long
standing relationships and have always looked at products from
lenders with a view to Treating Customers Fairly- this has put us
in a strong position in the current market instability."
KGB would also like to extend this offer to other smaller packaging
companies faced with similar problems with a view to helping them
work out strategic plans for survival in the current climate.
Bancroft adds: "This is a time for consolidation and we will help
out wherever we can in complete confidence".
All brokers affected should call the KGB helpline on 0845 658 9222
quoting "Broker Emergency Service" or email