A businessman who sells products through Amazon has complained the online retail giant could make small firms bankrupt due to a policy to delay payments
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The online marketplace has extended a policy not to pay sellers until seven days after the delivery of their products, to ensure it has funds for returns or customer claims.Vendors registered before 2016 - approximately 15% of total UK and European traders - were not subject to the policy until 3 August, and some of them say the change is a threat to their businesses.
Marios Katz, 46, from Cyprus, who sells CDs and vinyl to the UK, said Amazon is holding £5,000 of his earnings. "Amazon will lead us into bankruptcy for all the small businesses and companies," Mr Katz told Sky News.
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