What late payments tell us about lockdown

Read full article on The Credit Protection Association

Late payments tracker shows the UK is beginning to feel the effects of lock-down.

38% of invoices by value are at least ten days overdue, as the UK is beginning to feel the effects of lock-down exit.

However, by volume, the percentage is 49%! This is a increase since the pandemic of 209%

The sectors hardest hit by late payments in the UK since 25 May are Real estate, hospitality and ICT.

Prior to the covid-19 pandemic, late payments were already an issue in Finance, Insurance, Real Estate (56%), and in ICT( 53%).

Sectors least impacted by the crisis include Food industry (19% invoices over 10 days overdue), retail (22%) and manufacturing (23%).

Late payments have been fluctuating in May between 35% and 39% by value but this an improvement from the peak at the end of April of 43%

However, It is still far worse than before the pandemic lock-down when late payments in the UK were fluctuating between 25% and 29% by value. So late payments by value have increased by approximately 40% since the lock-down started.

See for yourself in the Unpaid Invoice Tracker https://invoice-tracker.dev-sidetrade.westeurope.cloudapp.azure.com/