Screwfix, BAE Systems and BT among 18 companies shamed for late payments
More than a dozen big name businesses have been suspended from the Government’s Prompt Payment Code for failing to pay suppliers on time. Screwfix, Prudential, British American Tobacco, BAE Systems, BT and British Gas owner, Centrica, were among 18 companies who were found to be taking longer than 60 days to make payments, according to the Chartered Institute of Credit Management (CICM). CICM chief executive Philip King, who administers the code on behalf of the Government’s Business, Energy and Industrial Strategy department, said: “We will continue to challenge signatories to the code if the obligatory Payment Practice Reporting data suggests that their practices are not compliant. “We are encouraged that of the 18 who have been suspended or removed today, all but one has already submitted action plans to achieve future compliance, and we are working closely with those businesses to support a better payment culture.”.
Story Sourcesuk.finance.yahoo.com uk.news.yahoo.com nwemail.co.uk herefordtimes.com shropshirestar.com