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FREEMANS ‘INVITES’ SUPPLIER DISCOUNTS FOR PROMPT PAYMENT

News, 01 February 1999

MUCH WAILING and biting the bullet among suppliers to mail order catalogue house Freemans, following its latest ‘invitation’ to cede a greater discount for prompt payment. The company, recently acquired as part of the Sears package by ‘entrepreneur’ Philip Green, currently receives a discount of 8% for not sitting on other people’s money beyond the customary period. Word is that this has been upped to 10% in the wake of the takeover.