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THE RESTAURANT GROUP (UK) LIMITED

Company number: 00894426

Reporting period:
29 June 2020 to 27 December 2020

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

This report was filed on 28 January 2021

and approved by Kirk Davis

Payment statistics

Average time taken to pay invoices: 58 days

Invoices paid:

• within 30 days: 10%
• in 31 to 60 days: 74%
• in 61 days or more: 16%

Invoices due but not paid within agreed terms: 36 %

Payment terms

Shortest standard payment period

31 days

Longest standard payment period

61 days

Standard payment terms

Standard payment terms are the last business day of the month after the invoice date.

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

Yes – Due to COVID-19 we agreed extended payment plans with a number of our key suppliers

Were suppliers notified or consulted about these changes before they were made?

Yes – Suppliers where contacted by a procurement department

Maximum contractual payment period agreed

61 days

Any other information about payment terms

The Restaurant Group (UK) Limited recognises that an increase in the average time to pay from 53 days to 58 days is not in line with previous efforts to work with our suppliers on prompt payment. The reason for this increase is that the unprecedented impact of COVID-19 on our business meant it was necessary to negotiate longer payment terms with a number of our key suppliers. These lengthened terms were all agreed in advance and we are grateful for the support of our supply base. As we return to more normal trading conditions, we will endeavour to bring down the time to pay in line with our standard terms of 45 days.

Dispute resolution process

All suppliers can contact the Accounts Payable team by phone or email to check the status of their invoice at any time during normal business hours.
Disputes would typically be escalated to a senior member of the finance, procurement or relevant operational function. If necessary, this may be further escalated to the relevant executive board member.

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.

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