| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 03 Mar 2019 - 31 Aug 2019 | 04 Oct 2019 | 53 | 37% | 52% | 11% | 23% |
| 02 Sept 2018 - 02 Mar 2019 | 01 Apr 2019 | 52 | 42% | 39% | 19% | 33% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
Goods not for resale – Invoices are paid weekly, on 60 days payment terms Goods for resale – Invoices are paid twice weekly, on 90 days payment terms Settlement discount applied to all goods for resale invoices as below – Direct Imports suppliers – 4% Landed suppliers – 18.25%
Were there any changes to the standard payment terms in the reporting period?
Payment terms were amended, in consultation with our suppliers, in response to the COVID-19 pandemic and its impact on trading. Terms were increased by 30 days.
Any other information about payment terms
Payment terms were amended, in consultation with our suppliers, in response to the COVID-19 pandemic and its impact on trading. In addition payment processes were amended and payment runs made less frequently as a proportion of staff were furloughed. Adjusting for these two factors the % of payments made while overdue would have been 30%.
Maximum contractual payment period agreed
90
Queries from the Company’s suppliers are directed through a central Supplier Liaison team within Accounts Payable. The following service level agreements are in place to ensure we respond to our suppliers within an acceptable time frame: (a) Urgent queries – 24 hours from receipt of query; and (b) Non-urgent queries – 48 hours from receipt of query. The initial contact points for suppliers are as follows: (a) Goods for resale – tradeinvoices@arcadiagroup.co.uk (b) Goods not for resale – general.expense.queries@arcadiagroup.co.uk
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
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Does this business offer e-invoicing in relation to qualifying contracts?
This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.
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Does this business offer supply chain finance?
This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.
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Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
TOP SHOP/TOP MAN LIMITED is a British fashion retailer that offers a wide range of affordable and trendy clothing for men and women. The company was founded in 1964 and has since become a popular destination for fashion-conscious consumers.
In terms of sustainability, TOP SHOP/TOP MAN LIMITED is committed to reducing its environmental impact and promoting ethical practices in its supply chain. The company has a comprehensive sustainability program that focuses on reducing waste, energy and water consumption, and carbon emissions. They also work closely with their suppliers to ensure fair wages and safe working conditions for their employees.
The company's products range from clothing, footwear, and accessories to cosmetics and homeware. They collaborate with various designers and influencers to offer unique and exclusive collections. TOP SHOP/TOP MAN LIMITED also has a dedicated line of sustainable and eco-friendly clothing, made from organic and recycled materials.
The key people behind TOP SHOP/TOP MAN LIMITED include CEO Paul Price and Creative Director Anthony Cuthbertson. They lead a team of fashion experts and designers who are constantly striving to bring the latest trends to their customers.
For contact information, TOP SHOP/TOP MAN LIMITED can be reached through their website at www.topshop.com. Their registered office address is 70 Berners Street, London, W1T 3NL, United Kingdom.
In conclusion, TOP SHOP/TOP MAN LIMITED is a popular British fashion retailer known for its affordable and trendy clothing. The company is also committed to sustainability and offers a range of sustainable products. With a strong leadership team and a focus on ethical practices, TOP SHOP/TOP MAN LIMITED continues to be a top choice for fashion enthusiasts.