A: They might be one of your biggest customers but they are worse than useless if they don’t pay you any money.
I suspect your demands are being ignored because they are bang up against their bank limit and what cash they have available is going to other suppliers who are taking a tougher line than you. What is the chat in the trade? Is this the way they normally do business or do you think they are in financial difficulty? Whatever the truth, it is time to put on the pressure. First check the legal situation with your lawyer, then politely but firmly tell them that you cannot give them anymore credit and that if the money hasn’t arrived by the end of the week you will apply to put their company into administration. It is time to look for a new client to take their place. John Timpson runs high-street cobbler Timpson, which has 800 branches nationwide and sales of £150m. Got a question for him? Post it in the comments box below.
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