OUTFIT RETAIL LIMITED
Company Information
- Company Number
- 04251395
- Registered Address
- C/O Teneo Financial Advisory Limted The Colmore Building, 20 Colmore Circus Queensway, Birmingham, B4 6AT
- Status
- Liquidation
- Employee Count
- 2,796
- Turnover
- £77,999,000
- EBITDA
- -£38,814,000
Additional Details
- Website
- https://outfitfashion.com
- Company Type
- Private limited Company
- Incorporated On
- 12 July 2001
- Nature of Business
- 82990 - Other business support service activities not elsewhere classified
- Industries
- Professional Services
- Region
- West Midlands
Time to Pay
Payment Timeline
Payment Features
Performance Reports History
| 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 | 70 | 23% | 59% | 18% | 65% |
| 02 Sept 2018 - 02 Mar 2019 | 01 Apr 2019 | 64 | 39% | 42% | 19% | 42% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Goods not for resale – Invoices are paid weekly, on 60 days payment terms Goods for resale – Invoices are 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
Dispute Resolution Process
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 – Apinvoices.general.expenses@arcadiagroup.co.uk
Other Payment Information
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
OUTFIT RETAIL LIMITED is a UK-based retail company that operates a chain of fashion stores across the country. The company was founded in 1995 and is currently headquartered in London.
The company offers a wide range of clothing, footwear, and accessories for men, women, and children from popular brands such as Topshop, Topman, Miss Selfridge, Dorothy Perkins, Wallis, and Evans. They also have their own in-house brand called Outfit, which offers affordable and trendy fashion options.
OUTFIT RETAIL LIMITED is committed to sustainability and has implemented various initiatives to reduce their environmental impact. They have a recycling program in stores for customers to dispose of their used clothes, and they also use sustainable materials in their packaging and products. The company also has a goal to reduce their carbon footprint by 50% by 2025.
The key people in the company include the CEO, Colin Henry, and the Managing Director, Emma Fox. They lead a team of over 2,000 employees across their 75 stores in the UK.
Customers can contact the company through their website, which also offers online shopping and delivery services. The registered office address for OUTFIT RETAIL LIMITED is Unit 2 Colegrave House, 70 Berners Street, London, W1T 3NL, United Kingdom.
In summary, OUTFIT RETAIL LIMITED is a leading fashion retailer in the UK, offering a wide range of products from popular brands and their own in-house brand. They are committed to sustainability and have implemented various initiatives to reduce their environmental impact. The company is led by experienced professionals and can be contacted through their website or registered office address.
