Bangladesh Garment Suppliers Hit Hard by Late Payments
“It was a year of trepidation and angst,” said Rubana Huq, president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), according to recent Dhaka Tribune reports.
While the quote could apply to any business in any market, when it comes to the world’s clothing supply chain, disruptions and uncertainty were particularly painful last year. Late payments were among the biggest pain points, and indeed, this week’s B2B Data Digest finds the garment sector continues to face intensifying challenges as a result of delayed and unpaid invoices.
It’s far from the only industry plagued by delayed B2B payments, however. As the data in this week’s roundup reveals, delayed payments continue to be a common headache, and have led to recent lawsuits in trucking, legal services and other industries. PYMNTS breaks down the numbers behind these stories below.
Photo courtesy of NYU Stern BHR.