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Fashion Payment Practices Report 2021

•By PaymentCheck•Reports

UK Fashion Sector Payments: A Mixed Bag with Some Standout Performers

The Numbers

  • Companies analysed: 34
  • Average PaymentCheck Score: 63.2/100
  • UK average: 50.0/100 (Fashion sector)
  • Fashion's average score is 13.2 points above the national average.

What Stands Out

While the fashion sector's average PaymentCheck score of 63.2 is significantly better than the UK average of 50, the wide range between the best and worst payers highlights stark discrepancies in financial practices. The top payer, GAP EUROPE LIMITED, with a score of 89.47, outstrips the bottom performer, C-RETAIL LIMITED, at just 27.61, by a massive 61.86 points.

Best Payers

  1. GAP EUROPE LIMITED - 89.47/100
  2. NEXT RETAIL LIMITED - 88.91/100
  3. TIMPSON LIMITED - 83/100
  4. GRAFF DIAMONDS LIMITED - 82.3/100
  5. HARVEY & THOMPSON LIMITED - 81.37/100

Worst Payers

  1. C-RETAIL LIMITED - 27.61/100
  2. DKH RETAIL LIMITED - 29.27/100
  3. RADLEY + CO. LIMITED - 35.44/100
  4. THE HUT.COM LIMITED - 38.07/100
  5. REISS LIMITED - 38.1/100

Regional Patterns

Yorkshire and The Humber boast the highest regional average payment score at 77.7, but this is based on data from only one company, rendering it statistically insignificant. Scotland’s average of 75.6, calculated from two companies, is more indicative but still represents a small sample size. We can use a late payment calculator to see what effect these rates have.

The disparity in payment scores in the fashion sector is substantial, and the higher than average overall score of 63.2 is misleading given that the bottom five payers scored between 27.61 and 38.1.