Thorn Group is giving up on its bid to establish a presence in the receivables management market, announcing that it will sell its debt buying and collection business National Credit Management Ltd to Credit Corp.Thorn bought NCML in 2011, paying A$32.5 million. It will sell it to Credit Corp for $22.6 million.When Thorn bought NCML it had revenue of $21.3 million and earnings before interest and tax of $6.2 million.In the year to March NCML had revenue of $14.7 million and EBIT of $1.4 million.Success in the receivables management market depends on paying the right price for impaired credit and collecting on a reasonable proportion of the debt.One source said Thorn lacked experience in the market and was outgunned by bigger and more experienced rivals, one of which is now buying the business.