Primark is to pay suppliers for hundreds of millions of pounds’ worth of additional stock to help support them through the coronavirus crisis.
The value fashion giant has committed to pay £370m of additional orders for product “over and above the £1.5bn of stock in stores, depots and in transit”.
Primark’s action means it will now take all product, both in production and finished, which had been planned for handover to the retailer by last Friday – a month-long extension of its previous commitment.
Primark previously committed to paying for orders in transit or booked for shipment by March 19. The new arrangement means that Primark’s total stock, owned and committed, stands at nearly £2bn even though its shops are shut and it does not trade online.
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