Arcadia has been slammed by suppliers who were written to and told that all orders were considered to be cancelled and that any order which had been supplied and invoiced would not be paid on the normal 60-day terms but on 90 days instead. It has also apparently advised certain of its staff that their services are no longer required.
“Global retailing is facing unprecedented times,” read its supplier missive, “with the impacts of Covid-19 unfolding and changing daily. As many of you will be aware, following UK government intervention, we were forced to close our stores last week to safeguard the welfare of our employees, customers and communities.”
Understandably there has been much call for (Sir) Philip Green and his wife to step up to the plate and compensate Arcadia suppliers who have been left high and dry with stock produced in good faith, along with the associated costs of materials and labour.
Share