UK retailer Debenhams has been criticised following revelations that it demanded deductions from suppliers, including one of 16.7% on payments settled within 90 days. The industry average for payments to suppliers is 42 days, according to the Federation of Small Businesses (FSB). A spokesman said: “While we are not aware of any specific cases where a supplier was refused payment by an employer, there have been instances in which employers have asked us to pay them more than they Debenhams is also reported to have demanded deductions for each bar-coded item requiring scanning, and in relation to carrier charges. The company is this week expected to report a 19% fall in annual profits to £95.4m ($125.6m).
UK retailer Debenhams has been criticised following revelations that it demanded deductions from suppliers, including one of 16.7% on payments settled within 90 days. The industry average for payments to suppliers is 42 days, according to the Federation of Small Businesses (FSB). Mike Cherry, national chairman of the FSB, described the charge as “totally immoral”. Debenhams is also reported to have demanded deductions for each bar-coded item requiring scanning, and in relation to carrier charges. The company is this week expected to report a 19% fall in annual profits to £95.4m ($125.6m).