A new campaign has been launched to outlaw late payments in a bid to save hundreds of Peterborough companies.
Called #PayFair, the initiative aims to make Peterborough a no-tolerance city for the late payment of bills among companies.
It asks firms to commit to paying on time.
Figures show that 620 Peterborough companies closed last year – 20 per cent of those due to insolvency caused by late payment of bills.
The campaign was officially launched at a gathering of business leaders at regeneration company Opportunity Peterboroughs Bondholder breakfast.
It is idea of Maurice Power, managing director of Ferguson Financial Solicitors, of Fengate.
He said: One in seven businesses in the east o…
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