Claims in the trade press that many retailers are so hard pressed that they are missing credit payments, have been dismissed by leading wholesalers.
Steve Fox, director of retail and Premier development, said: “We have many customers on a variety of credit terms and we have seen no change in people paying on time. This is a hard time for many people, but many retailers are doing extremely well and Premier is in double digit growth coming out of Christmas.”
Steve Parfett, managing director of Parfetts Cash Carry, said: “I don’t recognise it as a major issue for us. We are almost purely cash and carry, so there is a very limited amount of business done on credit, but we are not seeing any significant evidence of things changing. We are trading very acceptably at the moment. Trading is stable, which in the current economic climate is very encouraging.”
Rodney Hunt, managing director of Today’s Group, said: “I’ve seen no evidence to support that. A lot of business is not done on credit and no one in the group has raised it as an issue.”