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.
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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