Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Peacocks suppliers hit by cut in credit insurance

Peacocks suppliers have had their credit insurance cover slashed according to The Independent newspaper.

Euler Hermes, the UK’s biggest trade credit insurer, said in a letter that it was cutting the amount of insurance cover given to some suppliers that provide clothing to Peacocks by up to 90%.

Peacocks chief executive Richard Kirk told the newspaper: “It is the wider clothing sector the credit insurers are withdrawing cover on.”

He added that Peacocks sourced much of its stock directly from factories so the number of suppliers requiring credit insurance was minimal.

Peacocks is the latest retailer to be affected by credit insurers tightening up on the retail sector. Credit insurance companies pulled their cover for a raft of retailers including JJB Sports and businesses in Baugur’s portfolio over the last couple of months.

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.