Our assistant head of risk underwriting, Kieron Franks shares the steps we took to protect our customers following the collapse of major meat supplier firm, Russell Hume.
Tuesday night is steak night at Wetherspoon’s. So, when meat supplier Russell Hume was caught up in a food safety scare in January this year, it left 100,000 valued customers with empty plates. Suddenly, there was no sirloin, rump, gammon or mixed grill. Not even a skinny steak.
Alongside many other affected firms, the chairman of JD Wetherspoon, Tim Martin, instantly found his cashflow and his reputation under threat. With steak being the most popular dish on the menu, the decision to stop serving from Tuesday 23 January was a tough but essential one. Our assistant head of risk underwriting Kieron Franks explains how Euler Hermes can help during sudden company collapses such as this.