 | |  | | | | | | | | Monday 09 March 2009 | | Latest channel news | |
 DSGi squeezed again in Euler retail review
Credit insurer makes another set of deep cuts to cover as suppliers rally round high street giant
DSG International's (DSGi's) credit insurance woes deepened last week as Euler Hermes further reduced its exposure to the retail behemoth.
The credit insurer is rapidly slashing cover to some of the high street's largest names, with DSGi being one of the worst hit, according to insiders.
One broadline distributor confirmed that Euler had last week halved the cover it offers on credit lines into DSGi.
Another claimed that the credit insurer, which is said to underwrite more than half of all credit in the UK channel, had made "deeply significant" cuts to all DSGi supplier lines.
This comes on top of the cutbacks of about 50 per cent that Euler made to DSGi's cover in January.
Jon Bunyard, general manager of Computacenter Distribution, said the distributor had stopped trading altogether with DSGi at the end of last year after Euler pulled its cover.
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