Late payments hold back Irish economy
Companies are taking longer to pay creditors, with the increase in payment time forcing many companies to record unsustainable bad debt expenses, a newsurvey has found.
Late payments over 60 days increased to 12.5 per cent, up from 10.9 pre cent in 2003, according to the payment index survey conducted by Intrum Justitia (formerlyDun&Bradstreet).
The survey showed that late payments were holding back the Irish economy, according toNick Biggam,managing director of Intrum Justitia. “Compared to our neighbours across the water in Britain, this level of long-term overdue receivables reflects a deterioration in one of the major conditions for economic ...
