The new owner has decided to no longer be your accounts receivable department. You have been using that company to carry your receivables forever and now they are telling you it has to come to a halt. Can't say that I blame them.
You could investigate "factoring", where a "factor" (a person or company who buys receivables) comes in and give you cash for your receivables. They will wnat a couple of percent, but not a big chunk. And then they will regularly "buy" your receivables, giving you money to use for your supplier.
Many banks have a "factoring partner" they can have contact you. Or, you can look in the Yellow Pages or online for some on your own.
This is not the mobs, lending you cash, where you have to worry about your kneecaps. Factoring is a legitimate business, and a normal way of doing business in some industries.
No butts to kick but your own on this one....
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