News — UKFashionAndTextileAssociation

Cancellations, Longer Terms Could Take Out British Clothing Suppliers

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As merchants call off orders and lengthen payment terms amid the COVID-19 pandemic, fashion industry suppliers in Britain are cautioning that they could be taken out. Suppliers to one fashion chain with over 400 British shops were told last week that they would not receive payment for orders currently being made, the Financial Times reported. U.K. Fashion and Textile Association Chairman Nigel Lugg said, according to the outlet, “The majority of major retailers are extending payment terms and there are widespread cancellations even of orders in progress.” Lugg continued, “Terms are routinely being taken from 60 days to 120 or...

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