Trading has been under pressure at two rival credit hire companies, Bristol & London and Accident Exchange.

In its annual results, Bristol & London’s operating profits fell to £1.2m from £2m the previous year. Turnover dipped to £8.6m from £8.7m.

Just days later, rival Accident Exchange issued a profits warning. Due to lengthening debtor days, it has revised forecast profits down to £18m from the £23m originally targeted.