Ireland worst hit by late payments

A new report shows that over 50% of Irish companies believe late payments pose a threat to their survival, and that the culture is hitting Ireland harder than its EU peers.

The study — by leading international credit managment services firm Intrum Justitia for the European Payment Report 2015 — finds that nearly a quarter of European companies see a link between late payments and the need to lay off staff; with six out of 10 firms seeing late payments as a deliberate strategy of their debtors.

More than half of the near 9,000 European firms surveyed claim to have been asked to accept longer payment terms than they are comfortable with.