Rolls-Royce and Persimmon among companies named over late payments

A review of whether companies are meeting the standards has completed its first phase and identified 17 companies to be removed or suspended.

CICM chief executive Philip King said:"The Board is disappointed with the actions of a minority who continue to treat their suppliers unfairly, and has no satisfaction in having to name them publicly." Rolls-Royce said the assessment was"disappointing", saying it offered 30-day payments to many smaller suppliers and that as a group it paid 90% of invoices on time.

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