Ranked in 2 industries
This company is listed under more than one industry, so we show its position in each rather than picking one.
From March 2020 to March 2022, the average time taken for MISSGUIDED LIMITED to pay invoices has fluctuated. It started at 44 days, then increased to 64 days before dropping to 27 days in the latest period.
There is a high level of volatility in MISSGUIDED LIMITED's payment practices. The average time to pay has fluctuated by 37 days over the three periods, with the largest change being a decrease of 37 days between the first and second periods.
In the latest period, MISSGUIDED LIMITED's average time to pay invoices was 27 days, a significant improvement from the previous period's 64 days. However, there is still room for improvement as 48% of invoices were paid later than 60 days, and 75% were not paid within agreed terms. The company showed the best performance in paying invoices within 30 days in the first period, with 41% of invoices being paid within this time frame.
| 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 |
|---|---|---|---|---|---|---|
| 27 Sept 2021 - 27 Mar 2022 | 30 Apr 2022 | 27 | 18% | 34% | 48% | 75% |
| 30 Sept 2020 - 28 Mar 2021 | 28 Apr 2021 | 64 | 23% | 28% | 49% | 78% |
| 30 Mar 2020 - 29 Sept 2020 | 29 Oct 2020 | 44 | 41% | 34% | 25% | 57% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
45 days from date of invoice for all suppliers other than FOB stock suppliers where standard terms are 60 days from Bill of Lading
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
N/A
Maximum contractual payment period agreed
75
Missguided has a process in place for resolving disputes relating to payment. In the event of a dispute, the Accounts Payable Team would notify the supplier either verbally or in writing of the existence and nature of the dispute and seek to agree a credit note or alternative resolution so that a payment can be made. Resolution time would be expected to be within 7 to 14 days depending on the nature of the dispute so supplier payment terms could still be met. The Accounts Payable email is accountspayable@missguided.com
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
MISSGUIDED LIMITED is a in administration private limited company, incorporated on 9 August 1996, based in the West Midlands region. Registered business activity: Other retail sale in non-specialised stores; Retail sale of clothing in specialised stores; Retail sale of footwear in specialised stores.
From Companies House records.