Manufacturing firms owed £10.3bn in late payments

Late payments left UK manufacturing firms £10.3bn out of pocket in 2011 according to direct debit organisation Bacs. The 2011 sum owing to manufacturers represents a significant rise on 2010 when £8.9bn was recorded as outstanding due to late payment. On average Bacs calculates that across manufacturers in expectation of late payments around £43,000 is…