BusinessCompany NewsAga the ‘slowest FTSE 250 company to pay its bills’

Aga the 'slowest FTSE 250 company to pay its bills'

Aga leaves creditors to stew as stove-maker takes an average of 81 days to pay its bills

Stove-maker Aga is the slowest FTSE 250 company to pay its bills, taking an
average of 81 days to pay up according to a survey by the Institute of Credit
Management.

The survey found that the average time taken by a FTSE 250 business to pay
its bill is 27 days. The institute warned that some larger companies were
‘deliberately manipulating’ credit terms so although they appeared to pay on
time, but their smaller suppliers were actually waiting longer to receive
payment, reported the Observer.

‘These results show pockets of payment time deterioration,’ said Nick Wilson,
professor of credit management at Leeds University. ‘When this is combined with
recent rises in interest rates, these payment delays will put pressure on small
firm cashflows.’

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