Aldi/Powercraft

[The Medway Handyman]

Could be the end of the bargains

[Doki]

wonder if they're up to the same tricks as Tesco and conjure up cashflow by failing to pay anybody on time...

[Dave Plowman (News)]

Standard practice with most large businesses. Sadly.

[Dave Liquorice]

Especially when said large business is a major source of income to a much smaller business. Under the Late Payment of Commercial Debts Act there are rights and legal process that makes late payment and the penalties very clear. But the little chap/company just cannot afford to risk upsetting the wolf that feeds them.

[Andrew Gabriel]

That's starting to change, because when the little man goes bust, there are now companies which will buy him just for his books, so they can go back through them and claim the late payment penalties from his customers, which remain payable for 6 years. This is turning out to be very lucrative, when you can force his customers to pay between £40 and £100 plus interest at 8% above base rate for every invoice issued in the last 6 years where payment was late (or a higher amount if part of the original contact).

See:

note that the risk identified at the end (as I describe above) is now up and running well.

[Harry Bloomfield]

The Medway Handyman pretended :

over the years they seem to have become less competitive, or other companies have offered as good, as cheaply.