In the wake of a Sunday Stabroek report that United States medical services provider, RemoteMD, had filed for Chapter 11 bankruptcy while amassing a debt of over $100M to companies here, the city chamber has warned businesses of the need for due diligence checks before granting credit and says that the lodging of security should be looked at.
“I would advise other companies doing business with companies to limit their credit risk exposure with those companies, especially without any bank guarantee or any kind of security or things like that to hold,” Georgetown Chamber of Commerce and Industry (GCCI) President Timothy Tucker told the Sunday Stabroek in an exclusive interview.
