Lewis loses out on payments as stores shuttered during Covid-19 lockdown

Lewis loses out on payments as stores shuttered during Covid-19 lockdown

2020-08-11 12:41:00 AM

Lewis loses out on payments as stores shuttered during Covid-19 lockdown

The furniture and appliances retailer’s account payments drop by a third in April

10 August 2020 - 19:48Katharine Child and Karl GernetskyFurniture and appliances retailer Lewis says account payments dropped by a third in April as stores were forced to close because of the lockdown. A large number of Lewis clients make payments in store.

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Though the company, which owns furniture stores such as UFO and Beares, implemented other payment avenues through partnerships with food retailers that remained open in stage 5 of lockdown, 70% of customers who are used to paying in-store, did not pay, in comparison with April 2019, in which it had a 71% collection rate, Lewis said in a trading statement.

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