BGL to pay invoices in 14 days

The BGL Group has pledged to pay smaller local suppliers in Peterborough, Coventry, Sunderland and Peterlee within 14 days.

The company says the halving of payment times is part of its commitment to the communities in which it operates.

The BGL Group is behind the brands Budget, Bennetts, ibuyeco and the comparison site comparethemarket.com. Its head office is in Orton Southgate, Peterborough, with customer contact centres in Bretton (Peterborough), Coventry, Sunderland and Peterlee.

BGL Group chief executive, Peter Winslow, said: "Economic changes are having a visible effect across the country, and some businesses are really beginning to feel the pinch. We have excellent relationships with many smaller companies, and want to do what we can to ease any cash flow pressures they may have. From our perspective as a relatively large organisation with a very positive cash flow, payments that might not be material to us could make a real difference to small businesses. We would urge the other big players in Peterborough, Coventry, Peterlee and Sunderland to do the same and help support our local community. There are some exceptional businesses here and we should do what we can to help."