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SELFRIDGES RETAIL LIMITED

Company number: 00097117

Reporting period:
3 August 2018 to 2 February 2019

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This information is as reported by the business, and responses are in their own words.

This report was filed on 5 March 2019

and approved by Matthew Smith

Payment statistics

Average time taken to pay invoices: 33 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 31%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 31 %

Payment terms

Shortest standard payment period

7 days

Longest standard payment period

100 days

Standard payment terms

Goods not for resale - 30 days
Goods for resale 21 days - 60 days
Concession Partners up to 42 days

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

100 days

Standard payment terms vary dependent on the nature of the contract, as described above.

Any other information about payment terms

We generally adopt supplier’s payment terms other than where agreed alternative terms are reached relating to settlement discounts.

Dispute resolution process

We work hard to maintain a positive and fair relationship with our suppliers and endeavour to pay all suppliers within their agreed payment terms.
Any discrepancies are escalated to our Accounts Processing Managers to investigate and resolve.

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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.

Yes

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