BusinessBusiness RecoveryLate payments cause €300bn write-off

Late payments cause €300bn write-off

European companies lose out on amount equivalent to the total debt of Greece because of late payments

Companies across Europe have written off 300bn euros (£261m) of money owed to
them because of late payments.

The businesses, trying to weather the recession, have been put under greater
pressure because of the issue.

The amount of debt written off has increased by eight per cent since last
May, according to credit management company Intrum Justitia.

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