One has to wonder how long they can last with being so behind in payments to their suppliers. I’m looking for a bombshell announcement any day.
It’s millions of dollars and I don’t understand how it still hasn’t happened? I’m sure it can’t last very long though. Things will start to unravel maybe in the middle of next year but I wouldn’t be surprised if it happens even faster than we think. (I quoted someone’s post on @7jpn+18yxRogJ )
Follett treats its vendors terribly. They don't believe in any kind of relationship. The only thing Follett pays on time is family dividends.
Have your corporate lawyer send a letter to demand payment and stop shipping if they are past due. You will be surprised how quickly they pay. Follett only pays when you cut off shipments.
I worked at a firm that did a significant business with Follet's. They were 90 ~ 120 days behind on all invoices and each order was reviewed for credit worthiness.