GREGGS PLC
Company number: 00502851
Reporting period:
28 December 2025 to 27 June 2026
Report filed on:
24 July 2026
Approved by:
Richard Hutton
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 34 days
Total value paid:
- within 30 days: £266,493,757 (43%)
- in 31 to 60 days: £347,344,491 (56%)
- in 61 days or more: £7,991,491 (1%)
Invoices paid:
- within 30 days: 38%
- in 31 to 60 days: 61%
- in 61 days or more: 1%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £58,591,410
- payments due in the reporting period which have not been paid within the agreed period: 6%
- not made in the reporting period due to a dispute: 1%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
60 days
Standard payment terms
Our standard payment terms are 45 days from receipt of invoice.
Full purchasing terms and conditions are available on our Corporate website. Link: https://corporate.greggs.co.uk/investors/corporate-governance
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are used in specific circumstances:
Retention clauses are included in certain construction contracts, typically where JCT standard forms of contract are used. The retention provides security for the satisfactory completion of the works and the rectification of defects. Where applicable, retention is withheld from payments and released in accordance with the contract terms, with final release dependent on the successful completion of any defect liability or rectification period specified following contract completion.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retentions are released in accordance with the terms of the relevant construction contract. Typically, 50% of the retained amount is released upon practical or sectional completion and included in the payment relating to that milestone. The remaining retention is released at the end of the 12-month defects liability period, subject to any identified defects having been satisfactorily rectified. Where defects have not been rectified, the retention may continue to be held until the required works are completed, or deductions may be made to cover the cost of completing the remedial works.
Is the money released in stages?
Yes:
Retained amounts are released in stages through the valuation certification process. Typically, 50% of the retention is released upon practical or sectional completion and included within the relevant valuation certificate issued by the responsible Quantity Surveyor. The remaining retention is released at the end of the 12-month defects liability period, subject to all identified defects having been satisfactorily rectified. Where defects remain outstanding, the retention may continue to be held until the required remedial works are completed, or deductions may be made in accordance with the contract terms.
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
2%
Dispute resolution process
Disputes relating to payment are managed by Greggs’ Procurement department. Where there is an on-going dispute we always endeavour to reach a mutually acceptable solution, operating within Greggs Values with the objective of both parties needing to be comfortable with any agreement.
Other payment information
Has this business signed up to a code of conduct or standards on payment practices? If so, which?
For example, signatories to The Fair Payment Code must commit to paying 95% of their invoices within 60 days.
Yes, this business has signed up to: Fair Payment Code (formerly the Prompt Payment Code)
Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
No
Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
No
Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
No
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No