U.K. With late payments by Prada and Kurt Geiger, the government is tightening the screws

Last month, the British government presented an array of measures to limit late supplier payments and to support SMEs. According to the lobby group Good Business Pays, in 2023, Prada (LVMH) paid suppliers in 138 days on average, with 19% of invoices overdue. The average for luxury label Kurt Geiger was 104 days, 51% late (H1 2020 data). This compares with 84 days for DS Smith and with 87 days for Boots. For SMEs, the legal deadline is 30 days. The government is to propose a new law requiring la