Diageo working to improve pay practices
United Kingdom | Prompt payment (or rather the lack of it) is a hot topic in all industries, so much so that the UK government set up its “hall of shame”, aka its Prompt Payment Code (PPC) in 2008. On 1 November 2019, Johnnie Walker owner Diageo was among 20 companies to be suspended from the PPC, since it failed to comply with the Code’s terms of payment. Businesses signed up to the voluntary Code pledged to pay 95 percent of all supplier invoices within 60 days. Recently, the rules were tightened. As of 1 July 2021, signatories to PPC are obliged to pay small firms within 30 days.