DEBENHAMS RETAIL LIMITED
Company number: 00083395
Reporting period:
1 March 2020 to 29 August 2020
Report filed on:
21 September 2020
Approved by:
Mike Hazell
Payment statistics
Average time taken to pay invoices: 45 days
Invoices paid:
- within 30 days: 41%
- in 31 to 60 days: 31%
- in 61 days or more: 28%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 3%
Payment terms
Shortest standard payment periods
90 days
Longest standard payment period
120 days
Standard payment terms
Debenhams Retail Ltd ( In Administration) has the following standard payment terms with its suppliers: Goods for re-sale: up to 120 days from date of invoice, or receipt of invoice for non-UK based suppliers.(subject to standard weekly payment cycle). Goods not for re-sale: up to 90 days from date of invoice (subject to standard weekly payment cycle). Terms may vary in accordance with individual agreements with suppliers
Were there any changes to the standard payment terms in the reporting period?
Answer not provided
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
120 days
No further comment provided
Any other information about payment terms
Due to Debenhams Retail Ltd ( In Administration) being in administration since 09.04.2020, reporting on invoices over terms paid from this date only relates to post administration documents.
Dispute resolution process
Debenhams offers a B2B website which suppliers can sign up to monitor account activity and view the status of invoices. Payment disputes are initially reported to the Supplier Management teams . The dispute can be further escalated to the Team Leader and Finance Manager of the Supplier Management teams and resolved with the appropriate action.
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, this business has not signed up to a code of conduct or standards on payment practices.
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