Travis Perkins suppliers stunned as payment times increase

Grant Prior 3 hours ago
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Suppliers to Travis Perkins have been left fuming after the giant builder’s merchant suddenly decided to double the length of its payment terms.

Letters sent to suppliers last week stated that new standard payment terms would now be 60 days from the end of the invoice month compared to the 30 days some currently enjoy.

The move could see some suppliers who invoice early in the month having to wait nearly three months to get paid.

Travis Perkins said the move would “drive greater consistency in our relationships” and it follows the introduction of new finance software this summer.

But one supplier said: “This is a new one on me suddenly dropping something like this on us.”

Another added: “What is going on – we are way past April Fool’s Day but they think I’ll give them a product and they’ll pay me up to 90 days later.”

A spokesperson for Travis Perkins said: “Trusted supplier relationships are critical to our success, and we work closely with them to ensure we have a clear understanding of our obligations to each other.

“Across the Group, we currently have a range of different payment terms in place and following the introduction of a new finance system last year, we are now taking the opportunity to harmonise these across our supplier base.”

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