High street fashion retailer New Look has been slammed by a small business lobby group for extending the time it takes to pay suppliers.
New Look has announced that due to an "increased investment in new space" it will widen its payment terms to 75 days from 1 July.
The company has recently acquired 34 former Littlewoods stores and opened new shops in Belgium and France.
However, Forum of Private Business (FPB) chief executive Nick Goulding hit out at the action saying it was "another example of how smaller firms are paying to support their larger customers."
According to the FPB, a letter to suppliers from New Look managing director of finance and services implied that it was in the interest of the consumer tha...