Sharon Lornie has been appointed as a Receivables Specialist at Cerberus Receivables Management (CRM) in Salford.

CRM works with asset-based lenders, restructuring firms and directly with business owners to help determine financial difficulties and develop and implement strategies to overcome them. It is part of the Cerberus Group.

Sharon will have a UK-wide remit with responsibilities including undertaking offsite system reviews for clients, verifying sales ledgers and collecting books and records. She will also be involved in planning, implementing and working through collection strategies for both CRM’s funder and restructuring clients.

She commented:

“I’ll be working across all client sectors here at Cerberus, which reflects my 21-year background in the invoice finance industry – having held the roles of Recoveries Manager, Relationship Manager and Risk Manager for the UK's leading independent invoice finance specialist."

Sharon has a strong background in invoice factoring gained client-side so she can approach cases from a funder’s perspective, which has real benefits for CRM’s clients.

She said:

“I worked alongside CRM for a number of years in my previous role, so I’d experienced their great work ethic and professionalism first-hand. When the opportunity arose to join their team, it was an easy decision to make.”

She joins them at what is an unprecedented and challenging time for most businesses.

She added:

“The vaccine has given us all some hope for economic recovery, but I do think it will be hampered by some of the Government loans and financial support introduced to sustain companies during the crisis. Yes, they’ve been a much-needed lifeline and kept businesses alive, but they’re also masking the inevitable grim reality of mounting corporate debt. Once Government support ends, many businesses will be unable to bear the debt they took on to survive.

“As a result, I think there’s likely to be an upturn in insolvencies, which will bring about an increased demand for our debt collection services for funders and for support in the sale of assets. Similarly, we’re likely to see more appointments to review sales ledgers, books and records and verification work on their behalf.

“My job obviously keeps me busy but in the spare time I do have, I’m mostly a taxi - driving my two daughters to lacrosse and netball fixtures across the northwest. I also enjoy going to the gym, running and walking my dog.”