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    The boohoo group introduces new 14-day payment terms for UK manufacturers

    The boohoo group has announced that it has introduced new 14-day payment terms for its UK based manufacturers, recognising the key role that its UK manufacturing base plays in contributing to its success. The Group is extremely proud of its UK heritage and it has an on-going commitment to develop and source UK manufactured product, with UK production making up just over 40% of its supply base. The boohoo group has reviewed its current 30-day trading terms and from 1 August 2019 the Group will pay its British manufacturers 14 days from the invoice date. This is one of a handful of measures the group has implemented over the last two years in an effort to support its UK clothing supply base in the improvement of their businesses, one example being the introduction of electronic payroll systems within its supply chain operation in the UK, helping suppliers streamline their operations.

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