Since last December a string of suppliers to the fashion industry have been hit by a reduction in credit insurance cover. This week another group of suppliers – to the online retailer Boohoo – have been told that their credit insurance is to be sharply reduced in September, only a few weeks away. The insurer Allianz Trade is understood to have cut their cover by an average of 50 per cent, with some suppliers apparently having no cover as from September, Sunday Times reports.
