Fashionably late payment
Fashion & Retail
One of the characteristics of the fashion industry is that it's fast-paced, seasonal and changes rapidly. One would expect that with the rate of change within the industry, invoices are also paid in a timely manner.
But when a leading US fashion house supplying men and women’s clothing conducted business with a Swedish customer, recovering the payment took a lot longer than expected. The US supplier sold a large order of handbags and accessories to the Swedish customer, but the debtor seemed to have disappeared when it came to paying the invoice.
With a principal amount of €15.000,- the US supplier was finally able to contact their customer. After a brief period of contact, the Swedish company promised that the payment would be made. However, months passed and all of a sudden, the Swedish debtor began avoiding all forms of communication. Nine months later, with no payment and no contact, our client started doubting whether the payment would be recovered at all. With little faith left, our US client decided to give it a final shot and hire our Swedish debt collection specialist.
Once the case was presented to our debt collection specialist, the debtor's company immediately rang a bell. Having dealt with the same company in the past, our specialists knew exactly what type of debtor they were dealing with. Most importantly, the debtor was also fully aware of the measures we have in place.
Our debt collection lawyer immediately knew the best strategy that would guarantee the payment of the invoice. Knowing that our lawyers and client would proceed with legal action, the Swedish debtor immediately paid the entire claim, including interest and costs totalling an amount of €17.000,-.
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As Europe's leading debt collection law firm, we have become a household name known for our international flavour and customised approach. Debtors who we have dealt with in the past, know that we are willing to go to extreme lengths to recover the payment our clients are entitled to. Has your debtor left you in a similar position? Feel free to contact us for your consultation.