INDIA: Bata Restricts Wholesale Credit In Attempt To Stem Losses
In an attempt to recover outstanding payments, footwear major Bata India Limited has restricted credit sales to its wholesale distributors. The company, which is a subsidiary of Canada-based Bata Shoe Organisation, claims that overdue payments from wholesalers contributed to the Rs30 million (US$640,000) loss recorded by the business in the first quarter of the current financial year.
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