GOV.UK
NEW LOOK RETAILERS LIMITED
Company number: 01618428
Reporting period:
29 September 2020
to 27 March 2021
This report was filed on 23 April 2021
and approved by Richard Collyer
Payment statistics
Average time taken to pay invoices: 41 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 21%
- in 61 days or more: 33%
Invoices due but not paid within agreed terms: 21 %
Payment terms
Shortest standard payment period
60 days
Longest standard payment period
75 days
Standard payment terms
Standard payment terms for Goods for Resale contracts;
75 days from invoice date
Standard payment terms for Goods Not for Resale contracts;
Standard payment terms are 60 days following the end of the month of the invoice date.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
75 days
NA
Any other information about payment terms
N/A
Dispute resolution process
New Look has a dedicated accounts payable helpdesk that offers suppliers support through to query resolution. The team can be contacted by email Monday to Friday (9am – 5pm). Contact by e-mail is usually acknowledged or dealt with within a maximum of 3 working days.
Suppliers have the option to directly submit invoices to our E-Invoicing and document management partner which also provides real time data that includes invoice approval and invoice payment status.
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