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Businesses suffering from significant Late Payment delays

UK debt collections

Businesses in the manufacturing industry are made to wait the longest to receive payments for goods and services. The wholesale and retail trade sector, which also includes the repair of motor vehicles and motorcycles , is in second place, with a median wait for payments of 36 days.

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Governor Whitmer Signs Law Regulating Delta-8 THC Manufacturing and Sales Starting October 11, 2021

Fraser

House Bill 4517 is part of a package of legislation that will regulate the manufacturing, sale, and distribution of delta-8 THC products much like other legal marijuana products in Michigan. Governor Whitmer has signed a law allowing only regulated delta-8 THC products to be manufactured and sold in Michigan, effective October 11, 2021.

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10 Steps to a Successful Pivot of Business Strategy

Enterprise Recovery

Retailers have found new ways to sell to consumers, such as The Gap's highly successful pivot to selling masks , and many manufacturers are turning to a DTC (direct to consumer) model. The pandemic has highlighted businesses that chose to switch up their business strategy in order to remain profitable.

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Retail suppliers late payment worsening

UK debt collections

Small businesses supplying the automotive, retail industry and manufacturing sectors face the longest-ever wait for payment from some of the UK’s largest companies, according to Good Business Pays. Waterstones payments increased from 73 to 75 days. Hobbs payments increased from 53 to 66 days.

Retail 59
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Cigarette “Buydown” Payments to Retailers Excluded from South Carolina Sales Taxes

Burr Forman

Tobacco manufacturers and distributors have long made refund/rebate payments to retailers for the retailer’s purchase of cigarettes and other tobacco products from the manufacturer, provided the retailer reduces the price of the cigarettes and other tobacco products sold to the retailer’s customers.

Retail 52
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6 in 10 Small Businesses restricted by late payments

UK debt collections

This figure rises to 40% in the food and beverage sector and 32% in retail, highlighting industry-specific challenges. A staggering 61% of small businesses say that late payments are preventing them from reaching their full potential, rising to 67% in the food and beverage industry and 64% in manufacturing.

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Luxury Car retailer in liquidation with debts of £1.14m

UK debt collections

Liquidators have listed 61 creditors owed a combined total of £1.14m after luxury car retailer Autovogue slipped into liquidation this month. A statement posted via the Autovogue website at the time apologised to customers and listed a number of reasons for the business’s failure.

Retail 59