UK Fashion Payments: A Mixed Bag, But Generally Better Than Average in 2020

The Numbers

• Companies analysed: 33
• Average PaymentCheck Score: 59.6/100
• UK average PaymentCheck Score: 50.0/100
• Fashion sector average is 9.6 points above the UK average.

What Stands Out

While the fashion sector appears to be doing better than the national average on prompt payments, the scores are spread widely. The difference of 75.75 points between the top payer and the bottom payer is noteworthy and illustrates a dramatic disparity in payment practices.

Best Payers

1. GAP EUROPE LIMITED - 94.95/100
2. MULBERRY COMPANY (DESIGN) LIMITED - 91.3/100
3. NEXT RETAIL LIMITED - 87.18/100
4. TIMPSON LIMITED - 82.4/100
5. ROLEX WATCH COMPANY,LIMITED(THE) - 81.6/100

Worst Payers

1. C-RETAIL LIMITED - 19.2/100
2. BEACONSFIELD FOOTWEAR LIMITED - 33.3/100
3. REISS LIMITED - 36.56/100
4. THE HUT.COM LIMITED - 36.7/100
5. DKH RETAIL LIMITED - 36.93/100

Regional Patterns

Yorkshire and The Humber topped the regional list with an average of 74.8, but this is based on a single company, so it's not particularly revealing. While the East Midlands had a reasonably strong average of 70.7, it was calculated from four companies, which is more representative than the single company in Yorkshire and the Humber.

A tool to work out the cost of late payments can be found here: late payment calculator

The fashion sector's payment practices in 2020 were inconsistent, with average scores boosted by the excellent performance of companies like GAP EUROPE LIMITED (94.95/100) while C-RETAIL LIMITED languished at just 19.2/100.