Molson Coors UK has defended its decision to extend the length of time it takes to pay suppliers, following criticism from a business trade body.
Molson Coors UK confirmed today (20 September) that the brewer will take up to 90 days to pay suppliers, compared to 60 days previously. The move was effective from 1 September.
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The move was criticised by the Forum of Private Business in the UK, which has added Molson Coors to its “late payment Hall of Shame”. Forum spokeperson Phil McCabe said: “Many small-to-medium enterprises simply can’t afford to wait months and months to be paid for work they have carried out.”
Molson Coors defended its position. “The total [UK] beer profit pool is down approximately 30% over the last five years,” a spokesperson for the Carling lager brewer said.
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