Fashion brand Prada UK, Nurofen manufacturer and owner of Budweiser among firms taking more than 100 days to pay suppliers
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Posted: Wed 26th Feb 2025
The number of companies delaying payments to suppliers beyond 100 days has reached an all-time high, according to new analysis.
Good Business Pays examined the latest payment performance reports for over 6,000 companies, and found that several major companies are among the worst for slow and late payments, with 32 taking an average of over 100 days to settle invoices.
They include:
BG International, a supplier of oil and natural gas products, takes an average of 153 days, with 75% of invoices paid late.
T&P Media, an advertising agency with clients including Toyota and easyJet, takes an average of 146 days, with 34% of invoices paid late.
Designerwear brand Prada UK has an average payment time of 135 days.
Reckitt Benckiser UK, manufacturer of brands such as Nurofen and Dettol, takes 122 days to settle invoices.
AB InBev UK, owner of brands including Budweiser, Stella Artois and Corona Extra, takes 121 days.
Of the 6,000 companies analysed, 67 are classed by Good Business Pays as serial late payers due to consistently reporting paying invoices late every year since the system started in 2018. There are also 122 companies paying 70% or more of their invoices late.
Terry Corby, CEO of Good Business Pays, said:
"These findings are not just concerning, they are alarming. With insolvencies at record levels and small businesses already struggling under economic pressures, delayed payments add unnecessary risk to their survival.
"The continued rise in slow payers highlights a systemic failure in corporate accountability. Large companies must do better, not just for their suppliers, but for the health of the entire UK economy. We need to now see the government delivering on its promised reforms to tackle late payments"
Liz Barclay, Small Business Commissioner, added:
"Firms offering to pay in four or five months for work you are delivering today are either facing financial difficulties and using you as a bank, or don't understand the negative impact, not only on their suppliers, but potentially ultimately on themselves if suppliers go bust.
"Paying suppliers quickly builds sustainable and resilient smaller businesses that can invest, improve products, services and skills, increase productivity and grow."
Tackling late payment
Bills not being paid on time has long been an issue for the UK's entrepreneurs with research showing that small businesses are owed £22,000 a year on average resulting in 50,000 annual company closures.
Enterprise Nation's Small Business Barometer found that 23% of small firms are often paid late, while a study by the Department for Business and Trade found payment problems multiply the further down the supply chain you go, resulting in smaller businesses experiencing more issues with late invoices than larger firms.
The government has taken measures to tackle late payment, including replacing the Prompt Payment Code, a voluntary scheme for large businesses to commit to paying suppliers on time, with the Fair Payment Code.
The new code has three tiers to recognise best payment practices and help smaller firms identify reliable partners.
In the 2024 Autumn Budget, the government said that from 1 October 2025, companies bidding for government contracts over £5m per annum will be excluded from the procurement process if they do not pay their own suppliers within an average of 45 days.
Ministers have also said they will introduce new legislation that requires all large businesses to include payment practices in their annual reports.
Small business advice for dealing with late payment
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