The most significant failure in 2013 has been the collapse of Geon, which has seen Heidelberg lodge a claim for $710,000.
Geon ran Heidelberg presses, and its Kodak plates and plate processors were also supplied via a deal with Heidelberg.
Timson told ProPrint at the time that he was shocked to hear of Geon’s collapse.
Heidelberg has sent a letter to clients advising them that it had adopted new “commercially prudent terms” as of 1 April.
[Opinion: Do forensic checks before extending credit]
“You will have read [managing director] Richard Timson’s comments in the trade press about the need for our industry to tighten its fiscal policies,” said the letter.
“We all know the graphic art industry continues to go through unprecedented change and ‘some turmoil’.
“Heidelberg Australia & New Zealand is not immune to the challenges currently being faced, and after careful consideration we wish to advise that Heidelberg is changing its trading terms to strictly 30 days.
“While this is likely to be an unpopular decision for some of you, it is one that we are required to make and hope you will understand.
“Heidelberg will continue to support and help you grow your business, but these commercially prudent terms are how we will operate from April 1 2013.”
Heidelberg is not expected to be alone among the supplier community in tightening its terms.
In light of its exposure at BPA Print Group, KW Doggett managing director Simon Doggett told ProPrint last week: “Our company cannot continue to sustain this level of bad debt exposure and will undoubtedly review its unsecured trade credit policy in due course.
“We are continuing to work diligently with all our customers to understand the strength of their balance sheets to support some stress and avoid similar events occurring at our expense.
“Our customers understand the pressures we are under and are largely co-operating with our credit reviews. In fact, customers that have a well managed business and balance sheet are welcoming such a credit review as they understand the industry restructure will work to their advantage,” added Doggett.
[LinkedIn: Should the industry stop operating on credit?]
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